Funded Finance Simplified programme to help Lancashire businesses understand their finances as costs rise

Lancashire business owners and managers are being urged to register early for a popular support programme giving them external guidance on their finances.

With inflation increasing the costs of business operations and growing expectations of a recession in the new year, the Finance Simplified course from Lancashire County Council’s Access to Finance Lancashire service helps business leaders better navigate the difficult financial landscape.

Finance Simplified is a 12-hour programme designed for Lancashire businesses. It includes a series of workshops delivered over the course of one month by members of the Access to Finance team and professional advisors from across the public and private sector.

Attendees will gain a thorough understanding of financial statements, business planning, cashflow forecasting, funding options and how businesses can equip themselves in the face of the increasing cost of doing business. Following the programme, businesses have the opportunity for a review and brokerage session with a finance advisor.

Businesses are urged to register early for the next cohort in January to avoid disappointment.

Mark Gibbons, senior Access to Finance Lancashire specialist, said: “The cost of doing business is expected to continue to rise over the coming months and with many businesses already repaying debts from the Covid pandemic, navigating the coming months will be challenging.

“Most small companies do not have a finance director and the Finance Simplified programme will give them an external view on their own business and the financial landscape. That will help them to be ahead of the game and make important decisions effectively and quickly.”

Access to Finance Lancashire, funded via the European Union through the European Regional Development Fund and by Lancashire County Council, offers expert financial support at no cost to eligible businesses. It gives Lancashire companies access to a team of finance and funding specialists to help them find and secure investment.

In addition to this one-to-one service to help business secure finance, Access to Finance Lancashire operates the Finance Simplified programme, designed to help businesses understand their financial situation, whether external investment is right for them and help them be in a better position to secure investment.

“So far, lots of business have completed the programme and we’ve helped many of these with further support with the next step – helping them to secure the finance they need to grow,” added Mark.

“Our last cohort before Christmas has already begun and applications are open for our first cohort of 2023, starting in January. We would advise companies to sign up now to avoid being disappointed.”

Lancashire businesses can register their interest in Finance Simplified here: a2flancashire.growthco.uk/finance-simplified.