News
04.12.09
TURNAROUND SUPPORT FOR SIF FUNDING
Ruthin-based, Turnaround Solutions, is using its understanding and experience of public sector funding to support Welsh businesses in securing Public Sector support under the Single Investment Fund (SIF).
The business support specialists have to date raised significant sums of Welsh Assembly Government funding for small, medium and large enterprises across Wales with grants secured ranging from relatively small amounts up to and over £1million in certain cases.
With a central pool of funding available for growing or start up companies across Wales through the SIF, widespread support is available under one central scheme that now replaces the previous sector specific funding schemes. Turnaround Solutions operates a team of experts whose experience and understanding of grant application makes the process a simple one. Additional funding of up to 100% can be secured from the WAG by applicants wishing to take advantage of the Turnaround Solutions support service.
Former Invest Wales and Welsh Assembly Government Case Officer, Jennifer Langdon is leading the Turnaround public funding team. She said: "The SIF scheme is a fantastic opportunity for Welsh businesses to secure development funding, however, we recognise the fact that many businesses do not have the time to sit down, comprehend and complete the necessary paperwork".
"Our aim is to guide businesses through this system, and manage the formalities whilst allowing managers to focus on their day to day role. Our specialist team come from a public sector financial background and have the key skills and experience to manage this hugely positive initiative on behalf of applicants."
17.03.09
TURNAROUND SUCCESS FOR BUSINESS SPECIALISTS
Business turnaround specialists, Turnaround Solutions, has announced a series of growth and expansion plans including two high profile appointments, adding greater indepth strength to its consultancy team at a time when the economic climate has lead to even greater demands for their specialist services.
Celebrating its 10th year in business this month, Turnaround Solutions, headed by leading industry figure, Phil Wildbur, welcomes former Deloitte managing consultant, John Gregson, and former head of corporate finance at Chadwick’s, Dermot Garvey to the expanding team.
Since launching the Ruthin-based company in 1999 as an independent consultancy, Phil has grown and developed Turnaround Solutions into an international practice, building up a specialist team that works across an increasingly varied range of sectors. Focused on providing tailored support for ‘distressed businesses’, the company has developed a first class reputation within the turnaround industry and counts the major banks and lenders as main referrers.
The appointments of both Dermot and John will support the company as it continues to deliver expert business management and accountancy based advisory services. Dermot has worked within the restructuring and corporate finance sector for over 20 years – he is an experienced private equity and mezzanine investor and has sat on a number of company boards to assist in strategy and development. John is an experienced management consultant who specialises in advising boards in the private and public sectors on strategy, financial management and operations improvement. John was a non-executive director of the Mersey Partnership.
Phil Wildbur, Turnaround Solutions managing director said: “Bringing two experienced and talented professional on board serves to reinforce our strong reputation with lenders and businesses, and allows us to work with a wider range of businesses and agencies at a time when top class professional advice is in greater demand.
“Both myself and the rest of the team have worked hard to build this business in a challenging and constantly changing industry environment. Our style of business review, action plan and turnaround leadership is now systemised, evidence based and well practiced with a success rate that we continue to strive hard to maintain. We have now reached a business landmark and we are seeing many developments that indicate an even more exciting future ahead for Turnaround Solutions.”
14.01.09
Enterprise Finance Guarantee (EFG) Scheme.
This is a new government EFG scheme of £1bn which is aimed at SME’s with investment or working capital needs. The scheme will run from January 14th 2009 until March 2010.
It is available to businesses with an annual turnover of up to £25m seeking loans of £1000 to £1m for a term of up to 10 years.
The Enterprise Finance Guarantee (EFG) can be used to support refinancing existing loans or consolidatio of current lending to release capacity to meet working capital needs
18.12.08
The European Investment Bank Group (EIB Group) is modernising and strengthening its support for Europe’s SME’s to help lessen the effects of the current credit crunch.
The EIB’s Board of Directors initial series of measures:
- The EIB will earmark EUR £15bn over the period 2008-2009 for loans to SME’s in Europe granted via commercial banks, as part of an overall package of EUR 30bn by 2011. This constitutes a substantial increase over its usual lending in this sector.
- Subsequently, by the end of the year, the EIB will offer the intermediary banks more sophisticated risk-sharing products designed to reach market segments that commercial banks have difficulty penetrating (i.e. SMEs for which the risk is considered too great or the security provided is judged insufficient).
12.09.08
The Single Investment Fund (SIF) provides financial support to help with a wide range of business requirements, such as:
- starting up
- expansion
- modernisation
- restructuring
- developing new products, processes or services
- specialist advice
- general business support
- mentoring
The amount of financial support available will vary depending on the type, needs and location of the project. Higher rates of support may be available in assisted areas.
SIF has replaced the old Grant system in Wales and f your business operates beyond the local market and you need help with a project in Wales, you may be eligible.