Success stories
Another boost for Pendle companies!
Monday 4th January
Four more Pendle companies received grants in December which will create and safeguard even more local jobs.
Pendle Council is investing almost £90,000 through the No Limits Finance for Growth Project to help existing businesses during the recession.
This means that a further 22.5 local jobs will be safeguarded and 21.5 new jobs will be created.
The Finance for Growth Project helps secure vital cash to support qualifying businesses within Pennine Lancashire.
Since April the total investment in Pendle is £162, 776, which will create 40.5 jobs and will safeguard 29.
Councillor Allan Buck, who has lead responsibility for Economic Development, said: “This project is fantastic news for Pendle.
“It shows that some businesses are continuing to grow despite the current challenging economic climate and we’re delighted to be able to support them.”
Regal Precision Engineering (Colne) Ltd is investing £42,000 and has received £17,000 from the Finance for Growth project.
The company will buy a bespoke IT system to improve their existing software, safeguarding six jobs at the Colne firm.
Ian Sorbie, Financial Director, explained: “This new system will be exclusively written for us and will be key to our future development.
“It will focus on quality and reporting as well as producing purchase orders and managing our stock control.
“We’re thrilled to have the support of Pendle Council. It means we can be even more cost effective and safeguard six jobs!”
Pendle Council awarded £23,000 to Koribox Ltd to buy a printing machine and dye cutting machine.
This machinery will generate additional work, which will create six new jobs as well as safeguarding six. It will also help the company to expand into an adjoining building.
Graham Campbell, Managing Director of Koribox Ltd, said: “We’re really grateful to Pendle Council for supporting us.
“It means we can enter into a new market while remaining competitive.
“We currently specialise in manufacturing corrugated packaging and this funding means we can move into solid board packaging for poultry.”
Diamond Contract Cleaners Ltd will be able to improve services, sales and efficiency when it buys a bespoke cleaning machine.
The £6, 391 funding will safeguard two jobs and create 1.5.
And a £40,000 grant will create14 new jobs and safeguard 8.5 at Merc Engineering UK Ltd.
The Barrowford based company is expanding its premises to house a new CNC lathe and CNC machining centre which it will buy with the funding.
No Limits received £30m in government funding to promote enterprise and business growth within Pennine Lancashire.
Lynne Hargreaves-Walker, Finance for Growth Project Manager, explained: “The scheme helps secure vital cash so that businesses can go from strength to strength.
“No Limits Finance for Growth anticipates additional funding for 2010/11. So if you’re an existing Pendle business and need help to grow, contact us!”
Councillor Buck added: “Finance for Growth is just one of the schemes we’re running to help businesses grow and create new jobs - there’s plenty more help and advice if you need it."
More information
Businesses in Pendle can contact the Council on (01282) 661779 or have a look on the website www.pendle.gov.uk/recessionhelp
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