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28 January 2015

Cliff Maylor, CEO, North West Business Finance Ltd

Welcome to the first edition of INSPIRE for 2015…

Cliff Maylor edit

Let me start by wishing you a Happy New Year from myself and the team at The North West Fund. After four years we are now in the final year of this investment cycle, as the remainder of our money has to be invested by the 31st December.

We move into 2015 having invested £112 million into over 330 businesses, to date. We were delighted to pass the £100 million investment mark in the summer last year and we continue to see a healthy pipeline of potential investments for the final year ahead. This is a credit to our Fund Manager teams and we would like to thank them for all their hard work over the last four years.

ICAEW reported at the end of Q4, 2014 that confidence amongst businesses in the North West is up and in line with improving confidence businesses in the region expect the strong performance to continue for the next 12 months. Capital expenditure has accelerated to 4.4% over the past year, up from 2.4% in 2013 and while strong prospects for future growth are a key factor behind the rise in investments being made, improvements in credit markets have also played a role. This has been reflected in the strong reduction in the number of businesses reporting problems accessing capital as a greater challenge, so the market place has certainly changed considerably since The North West Fund was launched in 2010.

We continue our focus in the Liverpool City Region and are also working towards securing a future programme supported by European monies so that we can hopefully launch a second North West Fund on behalf of the five North West Local Enterprise Partnerships.

We have a busy year ahead ensuring that The Fund is fully invested for the benefit of the region and would like to take this opportunity to thank all of our key partners and stakeholders for their continued support.

I hope you enjoy the rest of the Newsletter which features case studies from some of our exciting investments with an update on the progress they are making since receiving investment from The North West Fund.

Kind regards,

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

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