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23 April 2013

Cliff Maylor, CEO, North West Business Finance Ltd

Welcome to our quarterly newsletter 'INSPIRE'

Cliff Maylor editI am pleased to say that 2013 has started very positively for our individual fund managers and continued the strong end to 2012. The first quarter of the year has seen The North West Fund invest over £11 million in 35 new investments and 16 follow-on investments across the region, making this our strongest quarter to date.

The prosperity of the North West is to a large extent reflected in the success and prosperity of its small and medium sized business community, they provide much needed employment and generate the tax revenues and VAT that help pay for the regions' essential services.

It is now widely recognised that the major banks in the UK have neither the appetite nor the resource to provide capital to businesses that fall outside of stricter credit appraisal guidelines. This has created a very substantial funding gap and made it much more difficult for businesses to raise much needed growth capital.

Against this background I am delighted that The North West Fund has been able to step in and invest over £54 million in 180 businesses and in doing so we have been able to create and safeguard a significant number of jobs in the region as well.

This issue of INSPIRE has a focus on Manufacturing. It is a sector we know well having invested some 20% (over £10 million) in this sector in the last two years. The North West is still the manufacturing heartland of the UK and we believe that North West Business Finance, as the manager of The North West Fund is ideally placed to support the next generation of businesses with the capital that they need to grow and prosper.

We look forward to bringing you some more success stories in future issues of INSPIRE and in the meantime I hope you find this quarters review informative.

Enjoy the newsletter!

Cliff Maylor
CEO of North West Business Finance Ltd which manages The North West Fund

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