Sign in Subscribe
County councils

Local Businesses Thrive with Support from Warwickshire County Council

Strategic Insights

— 1 min read

Warwickshire County Council's Local Communities & Enterprise Fund (LCE), delivered by the Coventry and Warwickshire Reinvestment Trust (CWRT), has helped Mandi Attarani, owner of Leamington Spa restaurant A Good Catch, overcome cashflow difficulties and expand her business. The fund provides affordable finance options to local businesses struggling to access lending from traditional lenders. With the LCE Fund, Mandi was able to repay debts, manage her cash flow, and invest in the future growth and marketing of her business.

Key Takeaways:

  • Mandi Attarani, owner of A Good Catch, received a vital loan from Warwickshire County Council's Local Communities & Enterprise Fund (LCE) to expand her Leamington Spa restaurant.
  • The LCE Fund, delivered by CWRT, provided an affordable finance option to help Mandi repay debts, manage her cash flow, and invest in the future growth and marketing of her business.
  • The fund has helped over 96 businesses, safeguarding 441 jobs, creating 30 jobs, and is forecasted to create a further 429 jobs in its first three years.
  • The LCE Fund has lent just over £5.88 million with an almost 4-time return on investment, generating an economic impact of £22.5 million.
  • Councillor Rob Howard, Leader and Portfolio Holder for Economy at Warwickshire County Council, stated that the LCE fund has made a huge impact across the county, supporting small businesses to grow by offering accessible finance.
  • Sheridan Sulskis, CEO of CWRT, emphasized that the LCE Fund is designed to fill the gaps left by mainstream providers, particularly for early-stage businesses that may not meet traditional credit scoring thresholds.

Statistics:

  • £5.88 million: The amount lent by the LCE Fund in its first three years.
  • 96: The number of businesses supported by the LCE Fund.
  • 441: The number of jobs safeguarded by the LCE Fund.
  • 30: The number of jobs created by the LCE Fund.
  • 429: The forecasted number of jobs to be created by the LCE Fund in the future.
  • £22.5 million: The economic impact generated by the LCE Fund.
  • 4: The almost four-time return on investment generated by the LCE Fund.

Sources:

  • Warwickshire County Council.
  • Coventry and Warwickshire Reinvestment Trust (CWRT).
  • https://www.cwrt.uk.com/local-communities-enterprise-fund

Read more