New partnership provides funding for North East businesses

From left, Louise Hardy, Business Development Manager at The BIC, Jonathan Gold, Managing Director at Rivers Capital, Paul McEldon, Chief Executive at The BIC and Kristine Murane, Investment Executive at Rivers Capital.
From left, Louise Hardy, Business Development Manager at The BIC, Jonathan Gold, Managing Director at Rivers Capital, Paul McEldon, Chief Executive at The BIC and Kristine Murane, Investment Executive at Rivers Capital.
0
Have your say

The North East Business and Innovation Centre (Bic) is helping a North East investor put its money where its mouth is.

The North Hylton business support organisation has joined forces with regional fund managers Rivers Capital Partners, to provide one-to-one sessions for businesses interested in finding new sources of finance.

Rivers provides support for the region’s start-ups and small businesses, managing two funds from the Finance for Business North East Programme, and complementing the work the Bic does in building and growing North East enterprises.

The one-to-one sessions will be run on a fortnightly basis by a Business Support Advisor from the Bic, alongside a member of the investment team from Rivers.

The sessions aim to break down the barriers to finance for micro and small businesses. North East companies will be able to make an appointment, or simply drop-in to speak to the team about any issues relating to funding.

Bic chief executive Paul McEldon said both organisations were committed to promoting accessible and available finance to ambitious businesses.

The new partnership would allow enterprises to achieve their aspirations, with guidance by professionals at each stage of the process.

“I am delighted that we have been able to turn a very successful working relationship into a partnership that will benefit businesses at whatever stage,” said Mr McEldon.

“For more than 20 years the North East Business and Innovation Centre has supported business growth and access to finance is a big part of that.

“These sessions will help businesses to consider the best way to raise finance and fund their business growth.”

Jonathan Gold, managing director at Rivers, said access to finance was one of the biggest obstacles facing North East businesses.

“We know that it can be frustrating trying to find funding to accelerate your ambitions and the ‘next big thing’ can have the smallest beginnings,” he said.

“We bring a unique perspective to our investment decisions and we want to assist as many ambitious businesses as we can, to access the funding they need to thrive.

“Working closely with the Bic will help more regional businesses achieve their vision.”