Partner Article

ENTRUSTâ??s RECESSION BUSTING PROJECT SET TO SAVE MORE NORTH EAST SMEs

Entrust, the Business Development Organisation which supports aspirational businesses and individuals in the North East, believes the latest £10m package from One NorthEast will play a vital role in helping hundreds of North East firms to survive during the economic slowdown.

The funding will double the annual support of Entrust’s Company Rescue Service, Pathfinder to £500,000, to help firms struggling with cash flow issues. After only five years of operation the service has made a real difference to the North East economy – saving 51 companies, 1,222 jobs and over £76 million in turnover during the last 19 months alone. This has also enabled the creation of 46 new jobs and over £6 million in new turnover.

Entrust’s Pathfinder Service provides assistance for viable companies that are experiencing difficulties. These difficulties are, in practice, normally financial but this symptom often hides deeper underlying causes. Pathfinder is successful because it addresses these issues, providing access to accredited business consultants who can work with the company on a practical, hands-on basis.

Speaking about the boost to Pathfinder, Dan Brophy, CEO at Entrust said:“Pathfinder is a vital and extremely successful service. It is very deserving of this boost and we are delighted that we will be able to help save even more SMEs going forward. Sadly, in the current economic climate an increasing number of North East businesses are looking for ways to survive, Pathfinder can support and enable their survival by providing the management team with an external perspective, and presenting an honest view of the company’s financial position.”

To discuss your concerns in confidence email Rick Charnley on r.charnley@entrust.co.uk or for further information on the Pathfinder programme or Service Network Conference please contact Entrust on 0191 2444000 or www.entrust.co.uk

This was posted in Bdaily's Members' News section by Ruth Mitchell .