Cheshire businesses thrive following £6m of Start Up Loans support
The Start Up Loans programme, part of the British Business Bank, announces that it has provided 544 loans worth £6m to businesses in Cheshire West and Chester, highlighting its dedication to supporting businesses in the North West.
Of all the Start Up Loans provided in the North West, 39% went to female-founded businesses, totalling over £2m. In addition, 62 loans in the region went to entrepreneurs aged between 18-24 years old, amounting to more than £455,000, demonstrating the Bank’s commitment to supporting underrepresented founders.
Recent Start Up Loan recipients in the North West include a vegan-friendly craft beer brewery, a rail recruitment agency and a renewable energy fitting company.
Since the Start Up Loans programme began in 2012, businesses across the North West have received nearly £140m of Start Up Loans financing. This means the region has received more than the South East of England, and is second nationally only to London in terms of the value of loans provided to businesses under three years old.
Delyth Edwards, senior network manager for the North West at the British Business Bank said: “The positive impact the Start Up Loans programme has had and is having on the small business ecosystem in Cheshire West and Chester is evident through the £6m of funding we have delivered to businesses across the region. We’ve reached groups that have previously struggled to access funding, with female-led businesses receiving 39% of the total loans provided.
“This demonstrates the importance of targeted funding like the Start Up Loans programme in supporting businesses in areas and to people who have been previously underserved in terms of financial support. The entrepreneurial talent in this region is evident through its flourishing small business community and I’m sure we will see a lot more success from these businesses over the next few years.”
Layers Treats, Chester-based Start Up Loan recipient
Tom Newey, aged 22, is just one of these recipients. Established in 2020, award-winning dessert business, Layers Treats offers handmade Belgian chocolate treats for all occasions. After deciding the classroom environment was not for him, Tom deferred his place at university and began learning how to make handmade chocolate. This hobby soon became a full-time business, attracting masses of customers and achieving impressive growth each year.
Around three years in, Tom approached The British Business Bank for a Start Up Loan to scale-up the business further and purchase an Airstream catering trailer. This allowed him to continue producing treats during the summer months despite hotter weather and attend weddings, festivals and corporate days to serve hot and cold desserts. The business was recently awarded best desserts maker in Cheshire and has ambitious plans for the future as it continues to deliver unique desserts to customers across the UK.
Tom Newey, founder of Layers Treats said: “After leaving sixth-form college, I initially planned to study business at the University of Durham but decided to defer my place. I struggle with dyslexia so decided the classroom environment was not my style of learning. During this time, I discovered my love for chocolate making which soon became a full-time business.
“Navigating growing a business and accessing finance as a young entrepreneur can be challenging but the British Business Bank made the process simple, helping myself and the business achieve what it has so far. Without the personalised support I received during the application process, I probably wouldn’t have completed the application. I am proud of what Layers Treats has achieved so far and look forward to growing the business further and achieving even more success as a young entrepreneur”.
