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Pictured presenting at the event is Hagen Wagner, Investment Manager with HO(I)L
Last Wednesday (25 October) a well-attended event for Highland businesses took place in Inverness Town House, sponsored by UKSPF through The Highland Council Investment Plan.
Over 50 businesses and organisations attended, hearing presentations from 8 lenders on key issues that businesses should consider in applications. The group of lenders included a number who are not well known or active in the Highlands.
The event was established in partnership with British Business Bank, Federation of Small Businesses and HIE and will, hopefully, be followed by others on funding options and sources which will take place across Highlands. The need for information as provided was confirmed by from comments at the event and identified in a recent survey on Funding and Finance, carried out by Highland Council.
This survey, on initial assessment, indicates that some 64% of participants report concerns over awareness of accessible finance with 43% expressing concerns over attitudes towards smaller businesses being experienced. Interestingly this is lower than those identified by British Business Bank in similar national surveys and may reflect well on the local advisory and funding support as well as a willingness to speak to other commercial operations in their area.
Highland Council’s advisory and funding bodies, Business Gateway Highland, and Highland Opportunity (Investments) Ltd, participated in and fielding questions in an active Q&A section which was appreciated by all.
Lenders at the event all indicated that they were open for business with several discussions taking place which may lead to deals being formalised.
Catherine Bunn of Highland Campervans gave an open insight into their funding experience in achieving their growth. Funders and attendees agreed that there were critical needs for openness, honesty and communications between lender and applicants.
Plans are being taken forward by The Highland Council, within the UKSPF Investment Plan for Highlands, to have further events throughout the region with a similar focus on topics of interest.
Pictured presenting at the event is Hagen Wagner, Investment Manager with HO(I)L
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