BUSINESS NEWS
SWIF offers £ 200 million of investment in the South West
The British Business Bank has launched a £ 200 million fund aimed at fostering growth and prosperity for businesses across the region , including Swindon and Wiltshire .
The South West Investment Fund ( SWIF ) will provide funding to SMEs across Swindon , Wiltshire , Bristol , Cornwall , the Isles of Scilly , Devon , Dorset and Gloucestershire . Offering a range of commercial finance options with loans from £ 25,000 to £ 2 million and equity investment up to £ 5 million , the fund will provide new opportunities for businesses at a crucial time of economic uncertainty .
SWIF is the first in a series of six new Nations and Regions Investment Funds being launched by the British Business Bank , the government-owned business development bank .
A total of £ 1.6 billion has been committed to the new funds to drive sustainable economic growth .
Chief Secretary to the Treasury , The Rt Hon John Glen MP and Member of Parliament for Salisbury , said , “ The South West is home to some of the most creative , innovative and exciting businesses this country has to offer . This fund will deliver vital investment to nourish that potential , building on over £ 300 million of levelling up funding to grow the local economy and create well-paid jobs across the region .”
Louis Taylor , Chief Executive of the British
Business Bank , added , “ The launch of the South West Investment Fund marks an important milestone in our mission to support business growth across the UK . By identifying and addressing funding gaps in the South West , we aim to empower local businesses and unlock their true potential . This initiative will play a crucial role in catalysing economic growth , creating jobs , and fostering innovation in the region .”
SWIF will be managed by a team of four fund managers that have been appointed by the British Business Bank including SWIG Finance , FW Capital , Maven and the FSE Group .
SWIG Finance will manage the smaller loans part of the fund , from £ 25,000 to £ 100,000 , for the whole South West . FW Capital and Maven will manage the debt (£ 100k to £ 2m ) and equity ( up to £ 5m ) funds respectively for the north of the region . The FSE Group will manage both debt and equity for the South of the Region .
Applications for funding are made directly to the relevant fund managers who can be contacted via the SWIF website : www . southwestinvestmentfund . co . uk
BUSINESS WEST CELEBRATES 200 YEARS OF SUPPORTING BUSINESS
Business West has launched a new campaign entitled ‘ 200 Years of Future Thinking ’ to mark the two centuries that have passed since the Bristol-based Chamber of Commerce was founded in 1823 .
The organisation which started out in Bristol is now one of the largest Chambers of Commerce in the UK and one of the most influential voices for business . It represents over 20,000 businesses in the South West including its network of Chambers of Commerce members in Bath , Bristol , South Gloucestershire and Wiltshire .
The ‘ 200 Years of Future Thinking ’ campaign coincides with a new look brand image for Business West , fit for the future .
‘ 200 Years of Future Thinking ’ will focus on extracting information and interesting stories around key topics of international trade , skills , and innovation , which would have been important in 1823 and which will massively impact business over the next 200 years .
An additional theme of sustainability , which would not have featured 200 years ago , has been included as it has become crucial in the past few decades and perhaps the key business driver of the future .
Phil Smith , Managing Director of Business West , said , “ In 1823 , a forward-looking group of businessmen , recognising the potential of connection , collaboration , and innovation , set up Bristol Chamber of Commerce .
“ Over two centuries we have built on their passion for this region . Nurturing entrepreneurship , innovation , and radical
thinking , to make this a great place to live , learn and work .
“ So much has changed since 1823 . We have learned lessons from the past , have adapted over time and spread our influence to the wider region . We recently became a B Corp which , together with our values , gives us the mandate to continue to be a force for good . It enables us to continue ‘ 200 Years of Future thinking ’ for a better future for all .
“ We are as relevant today as we were 200 years ago and these days support 20,000 businesses in the region to thrive and grow through trading overseas , innovating , upskilling their workforces , and taking action against climate change .”
“ It is fitting that in our 200th year , in keeping with our legacy , we will be announcing long-term transformational projects . They range from a project to help all of the city ’ s communities benefit from the economic success that is Bristol , and which will also help find much-needed talent for our business members , right through to a major urban regeneration project that will transform the eastern flank of our region .”
To find out more about the ‘ 200 Years of Future Thinking ’ campaign visit : businesswest . co . uk / about / businesswest-200
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