Firms get £1.6m finance support

Growth: Paul Taberner

Growth: Paul Taberner

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Rosebud Finance, which provides finance to support growing businesses in Lancashire, invested £1.6m and helped to create more than 50 jobs in the last year.

Rosebud invested six-figure sums in 11 businesses during the year – and helped them to secure a total of £7.1m in additional funding from other investors.

In addition to creating new jobs, Rosebud also helped to safeguard a further 180 jobs.

Key Rosebud investments in the past 12 months include Centaur Technologies, a Leyland company which offers a range of innovative roofing products; Lancaster-based Azullo, which has developed a sophisticated online advertising platform; and FDM Digital Solutions, a Burnley company pioneering the use of 3D printing.

Other investments include a digital game designer, a bookings website, an IT/telecoms company and a firm of architects.

Rosebud is a finance package supporting Lancashire firms to grow and expand their business.

It is managed by Enterprise Ventures, on behalf of Lancashire County Developments Ltd (LCDL) – the county council’s economic development company.

Paul Taberner of Enterprise Ventures said: “Rosebud is playing an important part in helping Lancashire to build its economy in high growth sectors such as aerospace and advanced manufacturing, creative and digital, energy and environmental technology, and financial and professional services.

“At a time when SMEs have been struggling to access finance for growth, Rosebud’s support has been critical.”

Coun Niki Penney, Chair of LCDL, said: “Our approach with Rosebud involves targeting our support at fewer companies, but with larger sums of money.