GROWING numbers of investors are heading to Yorkshire as more innovation hubs emerge in the region, according to the legal team behind the Yorkshire Fastest 50 awards.
The awards, which are run as a partnership between the law firm Ward Hadaway and The Yorkshire Post, celebrate the entrepreneurs behind rapidly expanding firms who are bringing jobs and investment to Yorkshire.
Adrian Ballam, a partner in Ward Hadaway’s corporate team, said that investment planning was the key to growth for firms of all sizes and sectors.
Mr Ballam said yesterday: “It’s not always easy, but the companies I’ve seen effectively grow and prosper over the years, attracting investment or selling successfully, have all had one thing in common – forethought.
“Setting up your business in the right way, having robust processes and procedures in place and good financial management, all lead to credibility and trust when it comes to selling or attracting investment,’’ he added. “It’s not always the business idea itself that investors buy into, but a demonstration of good planning, organisation and a robust growth strategy.”
Mr Ballam and Will Clark, the Fund Principal for Northern Powerhouse Investment Fund at Mercia Asset Management, said they have both seen the landscape for investment in Yorkshire change significantly in the past 10 years.
Mr Clark added; “The investment landscape has seen several new investors coming into Yorkshire and the M62 corridor in the last five years, so this makes it a great time to be raising money to either start or grow a business.
“With the state-of-the-art infrastructure that exists across the region, including Nexus in Leeds, AMRC in Rotherham, DMC in Barnsley and C4Di in Hull, there are endless opportunities for ambitious Yorkshire-based entrepreneurs.
“The availability of funding is exhibited through the British Business Bank’s Northern Powerhouse Investment Fund which is partly managed by Mercia and which has been designed specifically to support and invest into early stage and scale up businesses across Yorkshire.
He added: “The funding ecosystem has been enhanced with new investors opening offices within the region and this should ensure that there are sufficient local follow-on funding options available for those innovative high growth Yorkshire based businesses.”
If your firm is looking to attract investment, you need to get your house in order as early as possible in the life of your business, according to Adrian Ballam. of Ward Hadaway.
He believes you must have a vision and narrative for your business that can be easily understood by employees, suppliers and potential buyers or investors. You need to believe in it and use it to drive your business forward. It also pays to seek professional advice as early as possible –from reputable professionals with a proven, evidenced track record, he said.
The winners of the Yorkshire Fastest 50 awards 2020 will be announced at a glittering ceremony next month in Leeds.
The awards were established by The Yorkshire Post and the top 100 law firm Ward Hadaway in 2011.
A list of the fastest growing privately owned companies will be published in The Yorkshire Post this month.
The awards aim to stimulate economic growth by highlighting success stories.