Re-launch is ‘good news’ for city firms
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 firstname.lastname@example.org 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.