Wykamol first to receive grant from Lancashire Business Growth Fund

Growing Burnley business, the Wykamol Group, is the first company in Lancashire to benefit from the £8m Lancashire Business Growth Fund pot.

LBGF was launched earlier this month to help businesses across Lancashire with business growth projects and accelerate the creation of more jobs across the county.

A grant of £72,792 has been awarded to Wykamol from the fund to help them with their business growth project which will lead to the creation of eight new jobs.

Wykamol, market leaders in the manufacture and supply of products for the remedial treatment industry, and leaders in pioneering new product developments, needed financial support to get a new powder plant off the ground and approached (LBGF) to enquire about support.

Tony Street, Wykamol managing director, said: “We are delighted to be the first business in Lancashire to benefit from the new fund and delighted with the support we received from the East Lancashire Chamber of Commerce to secure the grant.

"The grant has enabled Wykamol to invest into new markets and bring more of our manufacturing in-house. Without the funding form LBGF I don’t believe the project could have gone ahead, so the support has been invaluable. It will lead to an increase in UK manufacturing and an increase in our export business, which is why such government schemes were set up.

Tony added: “We needed funds to get a new powder plant venture off the ground and we heard about the new fund from Access to Finance. We were the first business to apply to the fund, and everything went along very quickly from our initial enquiry on-line to submitting our written application. The application process is quite achievable and help and support is given along the way.

“If anyone is thinking of applying for funding, don’t be intimidated by the information required as help is always on hand to lead you through the process.” Mandy Lockett, LBGF programme manager and international business director of the East Lancashire Chamber of Commerce said: “We are so please we have been able to support Wykamol with their growth and to see the programme do exactly what it was set up to do, to provide the funds to help finance new machinery, new premises or whatever is needed to grow a business."