Lancashire firms urged to look at Future Fund amid coronavirus crisis

Steve Fogg, chairman of the Lancashire Enterprise Partnership, is telling eligible businesses within Lancashire to apply, to the fund delivered by the British Business Bank.

He said: “The new Future Fund is looking to support innovative companies with good potential, and which will be essential in ensuring Lancashire retains its capabilities in innovation and technology. These companies typically rely on equity investment and are currently adversely affected by Covid-19.

''Until now these companies have been unable to access other government business support programmes because they are either pre-revenue or pre-profit. The Future Fund financing will support companies facing a significantly extended length of time between funding rounds, due to the impact of the current economic situation.

''Developed by government and delivered by the British Business Bank, the Future Fund will help these companies through the current period of economic disruption and recovery, so they are able to continue their growth trajectory and reach their full economic potential.

"These companies will be a vital part of Lancashire's economic recovery as we emerge from this crisis.''

Sarah Kemp, Chief Executive of the Lancashire Enterprise Partnership said: "We have an array of companies in Lancashire who are at the forefront of innovation and technological advancement and which are invaluable assets to not only Lancashire but to the UK.

"The Future Fund provides a real opportunity for these businesses to access much-needed funding to secure long-term sustainability.''

Details can be found on the LEPs website https://lancashirelep.co.uk/covid-19/