[Event] Barclays £500M Northern Powerhouse Fund Launch @ Tuspark Newcastle (Tuesday 3rd July 2018)

Barclays has just launched a new £500m growth fund for small & medium-sized businesses across the North of England as a part of their commitment to support the Government’s Northern Powerhouse Initiative.

The new fund is available now and enables Barclays to offer the following business lending services for the first time:

  • Fee free lending up to £25,000
  • Up to £100,000 lending without the need for tangible security
  • Up to £250,000 overdraft without the need for property security for transport & logistics, business services, wholesalers & manufacturing companies
  • Cash flow funding for businesses to invest in acquisitions & organic business growth

The fund adds half a billion pounds of available funding and sits alongside the Northern Powerhouse Investment Fund (NPIF) and North East Fund – both of which can be combined with the Barclays Fund meaning even more growth support for the economy of the North of England.

Attend the North East launch event

The event on Tuesday 3rd July is an opportunity to find out more about the Barclays fund & to meet representatives of the four fund management companies managing the additional £120m North East Fund.

Barclays’ £500m Northern Powerhouse Fund Launch
Tuesday 3rd July (8am-10am)
Tuspark Newcastle, Maybrook House,
27 Grainger Street, Newcastle upon Tyne, NE1 5JE

To register your place, please RSVP to Rachel.Bell1@barclays.com

Barclays announces £500M Northern Powerhouse Fund

#NorthernPowerhouse

George Osborne first used the phrase ‘Northern Powerhouse’ during a speech at the Museum of Science and Industry in Manchester on 23rd June 2014 (read it here).

Regardless of your political persuasion, it’s really rather good and as a Northerner, I was very pleased and excited to read that the Chancellor of the Exchequer was going to invest huge amounts of money in the North not only on transport (road and rail) but also on science and innovation, art and culture. He was also going to give our great Northern cities more power to control their own budgets through devolution away from Westminster.

As you may know, this announcement was met with a great deal of scepticism from the political left, the media and the mainstream public (which you can read every day on Twitter via the #NorthernPowerhouse hashtag).

Even so, George Osborne has stayed true to his word by committing considerable sums of money to major transport infrastructure projects, academic institutions and cultural projects. Greater Manchester is also leading the way when it comes to devolution of power with the mostly Labour-supporting North West, North East and Yorkshire gradually getting over their natural mistrust of the Conservative party and seeing the potential benefits on offer.

In the 8 months I spent as ‘Community Engagement & Partnerships Manager’ for Tech North, a Government-backed organisations created to promote and accelerate digital entrepreneurship in the 7 cities of Newcastle, Sunderland, Manchester, Liverpool, Leeds, Sheffield and Hull, most people I met in the North hated the phrase ‘Northern Powerhouse’ but loved the ideas behind it. The main complaints being that it sounded Victorian and like heavy industrial machinery of the past, or too patronising and imposed on them from the Tory rulers in London. In response I would tell people that this was a huge and long-awaited opportunity for the North and that they should try to put such thoughts to one side if it meant a rebalancing of the UK economy in favour of the Northern cities.

Even though I left Tech North at the end of March 2016 to start my own business, I still believe that the Northern Powerhouse is a tremendous opportunity for our Northern cities to reassert themselves as the great global economic hubs that they once were and so am speaking and writing regularly on this subject wherever possible.

You can read what I think by clicking on the press article screenshots below:

The Institute of Directors (IoD)’s Special Report in Director magazine (June 2016)

SHARE Leadership The Northern Powerhouse – Seizing the opportunity

Bdaily (May 2016)

North East Northern Powerhouse insight: Paul Lancaster talks tech and digital entrepreneurship

The New Statesman (February 2016)

The New Statesman Northern Powerhouse supplement

New Statesman – Unleashing the Northern Tech Powerhouse

The February/March issue of the New Statesman magazine includes a ‘Northern Powerhouse‘ supplement featuring the following article from me (in between one from George Osborne and James Wharton MP no less)!

Click on the image below to read a .PDF of the article…
New Statesman