Re-launch is ‘good news’ for city firms

The Peterborough Evening Telegraph - - Etbusiness Daily - John.kralevich@pe­ter­bor­oughto­ @Peter­bor­oughet

THE re-launch of two re­gional fund­ing bod­ies as a sin­gle Com­mu­nity In­ter­est Com­pany (CIC) is “good news” for Peter­bor­ough busi­nesses.

Fi­nance East and Fi­nance South East have re-launched to be­come the FSE Group, a move that the com­pany says will open up a range of funds and ser­vices for com­pa­nies, com­mu­ni­ties and so­cial en­ter­prises in East Anglia.

Chief ex­ec­u­tive Sally Good­sell said the new com­pany would have greater free­dom to ex­pand, with a “com­pelling com­bi­na­tion” of lo­cal, re­gional and na­tional funds and ser­vices.

She said: “We are work­ing with a range of lo­cal part­ners from both the public and pri­vate sec­tors to cre­ate and de­liver new fund­ing schemes to sup­port busi­ness growth.

“At a time when fundrais­ing is in­creas­ingly dif­fi­cult, this is good news for busi­nesses in the

JOHN KRALEVICH East of Eng­land and we look for­ward to see­ing fur­ther in­vest­ments in the re­gion.”

The FSE Group’s team, based in Ip­swich, pro­vides a range of debt and eq­uity growth fi­nance so­lu­tions and sup­port to in­no­va­tive small and medium-sized busi­nesses. It man­ages about £40 mil­lion worth of funds.

The team, which three years ago was named Best Early Stage In­vest­ment Team by the Bri­tish Busi­ness An­gel As­so­ci­a­tion (BBAA), has in­vested more than £6 mil­lion in com­pa­nies in the East of Eng­land over the last three years.

Among the com­pa­nies that have ben­e­fited from fund­ing via the group in­clude March-based man­u­fac­tur­ing firm Qualitetch.

FSE Group man­ages three fund­ing ve­hi­cles ex­clu­sively geared to com­pa­nies in the east – the East of Eng­land Re­gional Growth Loan Scheme, the East of Eng­land Busi­ness An­gel CoIn­vest­ment Loan Scheme, and the Suf­folk In­vestor Club (SIC).

It also of­fers a num­ber of other na­tional fund­ing schemes which busi­nesses in the East are el­i­gi­ble to ap­ply for, in­clud­ing the Com­mu­nity Gen­er­a­tion Fund, a na­tional fund to sup­port com­mu­ni­ty­based re­new­able en­ergy projects, and the So­cial Im­pact Co-in­vest­ment Fund which pro­vides loans to SMES which pri­mar­ily op­er­ate with a so­cial pur­pose.

The group says it will con­tinue to work with busi­nesses to de­velop their in­vest­ment case and un­lock fund­ing from a range of sources. tice­ship pro­grammes in­clud­ing busi­ness ad­min, cus­tomer ser­vice and IT skills, to­gether with child­care, hair­dress­ing and bar­ber­ing, mo­tor ve­hi­cle and hos­pi­tal­ity and cater­ing.

To find out more, call Sarah Mitchell on 01733 708064, email smitchell@city­col­legepeter­bor­ or call into the Col­lege in Brook Street.

good AREA: David­sons land di­rec­tor Sarah Whet­ton com­ments on the choice of Peter­bor­ough.

new fund­ing schemes: Sally Good­sell, chief ex­ec­u­tive of the FSE Group.

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