Fund support offered at networking event

THE launch of Oldham Festival for Business at Saddleworth Networking group. Pictured from left: Graham McKendrick, Philip Pearson, Claire Holland, Susan Mayall and Kashif Ashraf

THE Oldham Enterprise Trust visited an Uppermill networking group to highlight its range of support for new and established businesses.

The trust was relaunched earlier this year and organisers want to build greater public awareness of its loans, grants and advice for people of all ages.

A total of £4 million in funding is now available through the trust and other organisations to help entrepreneurs in the borough launch their own businesses and create more jobs.

Part of the funding comes from The Stoller Charitable Trust, backed by Sir Norman Stoller, which is targeting people under 25 with grants. The other organisations are focusing on older people, aged 25 and above, with affordable loans.

Trust representative Graham McKendrick spoke about the support at the Saddleworth Networking group's latest meeting in the Dinnerstone bar and restaurant in Uppermill on Tuesday.

The group meets on the first Tuesday of every month and is led by Susan Mayall, head of employment law at Pearson Solicitors and Financial Advisers, Philip Pearson, of Morgan Pearson Business Advisers, and Claire Holland of Redmonds Solicitors.

Speaking about the trust, Mr McKendrick told guests: "We want to promote the enterprise fund with the Sir Norman Stoller and Business Growth Hub's involvement. Please have a look at the range of services now on offer. The trust works with start-ups and established businesses on areas including innovation and financing growth."

The loan and grants scheme is also backed by Business Finance Solutions, Oldham Council, the European Regional Development Fund and the Manchester Growth Company. It is hoped the enhanced partnership will ensure businesses at all levels find the support they need to expand.

A previous enterprise scheme backed by Sir Norman from 2013 to 2016 supported 100 businesses financially, with 38 receiving grants and 66 receiving loans. Four people received both grants and loans. The average grant given was just under £4,000 and the average loan was £8,600. The scheme created 207 jobs including 90 for people aged under 25.

The new, expanded fund is open to Oldham residents aged 16 and over, along with non-Oldham residents who will base their business in the borough for at least 12 months. Further support is available, whether applications for finance are successful or not.

Call Mr McKendrick on 07515 188974 or email graham.mckendrick@oldham.gov.uk for details.