Enterprise Ventures has been re-appointed to manage Lancashire’s Rosebud Finance for a further five years.
Enterprise Ventures has managed Rosebud for 29 years since it was set up in 1985 to support the growth of Lancashire businesses. The company was re-appointed by the Lancashire County Council’s economic development company, Lancashire County Developments Ltd (LCDL), following a competitive tendering process.
Rosebud provides loan and equity funding from £50,000 to over £1m and focuses on high-growth businesses in the strategic sectors of advanced manufacturing, aerospace, creative and digital, energy and environmental technology, and financial and professional services.
In the year to the end of March 2014, Rosebud invested £1.6m in 11 businesses, helping create well over 50 jobs and safeguarding a further 180. It also contributed to the companies attracting a further £7.1m investment from other sources.
County Councillor Niki Penney, Chair of LCDL, said: “For almost 30 years, Rosebud has been creating jobs and bringing new economic growth to Lancashire. Enterprise Ventures has been a significant part of this enduring success and we’re pleased that this will continue for a further five years.
“Since its creation, Rosebud has been copied by councils in other areas. But we’ve continued to adapt Rosebud to meet the changing needs of businesses in Lancashire.”
Paul Taberner of Enterprise Ventures said: “Lancashire County Council led the way in launching Rosebud almost 30 years ago to support small firms’ growth. Since then it has created thousands of jobs and helped to attract new and growing businesses to the county, and the Rosebud model has been copied in other local authorities. We are delighted to have been re-appointed and look forward to continuing to work with LCDL in supporting Lancashire businesses.”