Growing Burnley business, the Wykamol Group, are the first company in Lancashire to benefit from the £8 million Lancashire Business Growth Fund (LBGF) pot, which was launched earlier this month to help businesses across Lancashire with business growth projects and accelerate the creation of more jobs across the county.
A substantial grant of £72,792 has been awarded to Wykamol from the fund to help them with their business growth project which will lead to the creation of 8 new jobs.
Wykamol, who are market leaders in the manufacture and supply of products for the remedial treatment industry, and leaders in pioneering new product developments, needed financial support to get a new powder plant off the ground and approached (LBGF) to enquire about support.
Tony Street, Wykamol managing director, said:
“We are delighted to be the first business in Lancashire to benefit from the new fund and delighted with the support we received from the East Lancashire Chamber of Commerce to secure the grant. The grant has enabled Wykamol to invest into new markets and bring more of our manufacturing in-house.
Without the funding form LBGF I don’t believe the project could have gone ahead, so the support has been invaluable. It will lead to an increase in UK manufacturing and an increase in our export business, which is why such government schemes were set up.
“We needed funds to get a new powder plant venture off the ground and we heard about the new fund from Access to Finance. We were the first business to apply to the fund, and everything went along very quickly from our initial enquiry on-line to submitting our written application. The application process is quite achievable and help and support is given along the way.
“If anyone is thinking of applying for funding, don’t be intimidated by the information required as help is always on hand to lead you through the process.”
Mandy Lockett, LBGF Programme Manager & International Business Director of the East Lancashire Chamber of Commerce said:
“We are so pleased we have been able to support Wykamol with their growth and to see the programme do exactly what it was set up to do, to provide the funds to help finance new machinery, new premises or whatever is needed to grow a business.”
“The money is only on offer for two years so we need businesses in Lancashire to take advantage of it as soon as possible. So if you’re a business based in Lancashire please give us a call to discuss your project ideas.
For more information on applying to the fund contact Stef Heywood, East Lancashire Chamber of Commerce on [email protected] or 01254 356454.