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SME Web Accountants Ltd (SWA), led by Sean Hackemann, advised the Management Team of Ignite Data Limited (Ignite) on its development capital fundraising with debt funding provided by the Thames Valley Berkshire Expansion Loan Scheme.

The funds will be used to accelerate Ignite’s growth strategy and for working capital purposes. SWA provided financial modelling and advisory services to the Management Team. Based in Reading, Ignite Data designs and delivers smarter research solutions in the real-world using electronic healthcare records (EHR) and outcomes data. Ignite’s technology enhanced solutions allow its pharma and clinical research organisation (CRO) clients to Find Sites for research and clinical trials, Recruit Patients for their research and Manage EHR Data.

Dan Hydes, Managing Director, Ignite, commented: “Within very tight timeframes Sean worked with us to develop a robust integrated financial model that was central to us raising with funds with FSE Group.”

Cheryl Weeks, Fund Manager at The FSE Group, which manages the TVB Expansion Loan Scheme on behalf of Thames Valley Berkshire Local Enterprise Partnership (LEP), comments: “To date Ignite Data has built up an impressive list of clients, which include a wide range of leading pharmaceutical and NHS organisations. We were instantly impressed with the technology behind Ignite and are delighted to be supporting Dan and his team in the next stage of their growth. We wish them all the success for the future.”

Sean Hackemann, Director, SWA, commented: “We are delighted to have assisted the Management Team in raising development capital to accelerate Ignite’s growth and facilitate this cutting-edge business to further carve out a niche in the pharma and research sector. This transaction is a great example of how our growth services help ambitious SMEs obtain development capital in a really challenging funding space.”

A Staines based provider of mobile employee engagement solutions is the latest company to receive investment from the Enterprise M3 Growth Fund. The £175,000 investment is part of a £750k round, which also includes £455,000 from business angels, facilitated by the FSE Investor Network, and existing investors.

A second close will shortly see an additional institutional investor provide a further £0.25m, bringing the total investment to £1m. FSE has achieved leverage of over 5 times its investment, which will help accelerate the company’s growth ambitions.

StaffConnect is carving a niche in the underdeveloped space of employee engagement, specifically targeting sectors and environments where a significant proportion of staff are non-desk based and do not feel an attachment to the company. Its platform provides employees with an app for their smartphones, meaning they can connect with their colleagues and employers without having to give personal phone numbers and email addresses, whilst providing employers with a sophisticated interface which can be used to manage and measure a wide range of functions to support employee engagement.

Founder and CEO, Bulent Osman, outlines the problem: “disengaged staff can be a huge barrier to success with research suggesting that, in the US alone, the cost to business is around $500 billion; an effective internal communications strategy that instils company values and cultivates a sense of loyalty and belonging, can deliver almost 50% higher returns across a business. Our solution gives an employer the opportunity to add this value across their entire organisation, especially where workers are remote or non-desk based and most likely to continue feeling disconnected.”

With the rise of social media, this disengagement is even more damaging to businesses than it has been in the past, as disgruntled employees frequently take to these – sometimes public – platforms to express negative feelings and experiences.

StaffConnect addresses this, along with other elements to promote and improve employee engagement, through its range of pre-built and bespoke modules that include among others, news, messaging, events, social and surveys. Already in use by a number of blue-chip clients including Vodafone, Yeo Valley and YMCA, this is a well-developed product that is ready for further roll-out. This latest round of investment will be used to grow the sales team and customer support function, aiding expansion across additional territories.

Ralph Singleton, Fund Manager at The FSE Group, which manages the Enterprise M3 Growth Fund on behalf of Enterprise M3 Local Enterprise Partnership (LEP), adds: “StaffConnect has created a leading-edge solution with a technical capability beyond that of the competition and for such a young company to have already secured global, high-profile clients, with many more in the pipeline, is both unusual and impressive. We look forward to working with the team to capitalise on the growing traction they are experiencing and fulfil their potential in this rapidly expanding market.”

Geoff French, CBE, Chair of Enterprise M3 LEP comments: “We are really pleased to see that Enterprise M3 Growth Fund is helping another ambitious company to expand and maximise productivity. The £900,000 we have invested into local businesses so far from the £5.5m pot, has leveraged a further £4.1m in additional funding from private and institutional investors, thus generating a total of £5m for businesses to grow and create more jobs in our area.”

The Enterprise M3 Growth Fund is part of the Enterprise M3 Funding Escalator, a £5.5million initiative funded by Enterprise M3 Local Enterprise Partnership. The escalator, which also includes an expansion loan scheme, provides eligible companies with loans and equity funding between £50,000 and £200,000 for activities that will deliver high-growth and employment opportunities.

When it comes to finding funding, small businesses should consider how well their finance partner knows their unique needs, rather than going for the quickest route The funding landscape affecting small and medium-sized businesses has undergone some interesting shifts recently. While banks have become more conservative with their lending, there's also been an upsurge in alternative finance options such as peer-to-peer lending and crowdfunding platforms. But are small businesses taking full advantage of all the options available to them? Armed with a proposition, the majority of small businesses opt to go to the banks first in the hope of securing funding. According to the British Business Bank’s 2015/2016 report, over half of UK smaller businesses immediately go to their main bank when they first identify a financing need rather than shopping around for finance. Unfortunately, success is by no means guaranteed – especially since banks have adjusted their risk appetite over the last few years. But with so many other funding options available now, rejection from a bank doesn’t need to spell the end of the road anymore. That being said, many businesses seem to be hesitant to spend more time assessing the financial options on the table. As well as a reluctance by banks to fund small businesses, there’s also been a sharp change in the day-to-day relationship between banks and their clients. With continuing pressure to reduce costs – which often means staff reductions – many banks communicate with small businesses via their business support teams over the phone or through a live chat online. The rise in digital communications has changed the relationship between businesses and banks, and the intimate relationship that used to exist is now sadly rare. Turned away by their bank, many businesses feel they have no choice but to apply for online loans. And while this approach may work out for some, there are other routes. The problem is that these options are often overshadowed by flashy ads telling people to “apply in minutes” that promise quick decisions. But what chance does the business owner or management team have to really set out their plans or demonstrate their understanding of the opportunities – or the threats? The decision on both sides is simply driven by numbers and data. However, the numbers can look worse if a business is starting up or on the cusp of growth. That's why establishing a relationship between a business and its finance partner is important. Getting the full story requires a conversation and open communication. It’s vitally important that a business trusts its source of finance, and the only way that level of trust can be built up is via a strong relationship. Generic or one-size-fits-all solutions just won't work here because no two businesses are the same. So as small businesses shop around for funding, they should look beyond how much money the other party is willing to put on the table. The good news is that there are many new funders looking to step forward to fill the gap left by banks. It's now up to small businesses to cast the net wider and also to weigh up what a funding partner is offering against what their business really needs. Many businesses opt for the quickest and simplest route, and this is where they can become frustrated. The cheapest deal may come through a simple application process online, but without taking some time to look at other options you might miss out on the best deal. Some funding sources, such as bank loans or crowdfunding platforms, are very visible. But there are others worth exploring that perhaps receive less attention. Government lending schemes in collaboration with local enterprise partnerships or wider schemes funded by the British Business Bank are often tailored to the business' stage of development and can adapt as the business grows and prospers. Crucially, the relationship aspect plays a key role throughout the process. Both parties identify future opportunities or potential risks and work through challenging times together. Support builds trust, which in turn strengthens the relationship. So while data and technology may have encroached on some relationships, they’re still going strong if you know where to look.

A company determined on teaching children about emerging technologies through a fun and supportive club environment has successfully completed its latest funding round. The investment comes from Creative England, the Coast to Capital Growth Equity Fund, managed by the FSE Group and Emerge Education. MakerClub came to life in 2014 and was founded by Simon Riley, named in the 2015 top 100 most influential EdTech leaders.

The company offers weekly technology workshops and online learning to inspire and teach children how to use 3D printers and programme robotics. Starting them off with ice lolly sticks and taking them all the way through to professional 3D printed prototypes.

Simon Riley, Managing Director at MakerClub comments, “Here at MakerClub we feel that not enough emphasis is being put into teaching new and exciting technologies to young children. With the sudden rise of 3D printing this is a great opportunity to teach children about technology that could, in the not too distant future, be a regular part of everyday life. This investment will enable us to open more centres, encourage engagement and reach out to even more children.”

Mehjabeen Patrick, CFO, Creative England, “MakerClub is a great example of an innovative company with fantastic potential, they have a mission with social purpose and it has been inspiring to see how they have grown and developed their business. Simon and the team are passionate about what they do, and have the skills and expertise to take MakerClub to the next level."

Avent Bezuidenhoudt, Senior Fund Manager at The FSE Group, “The MakerClub brand is clearly recognisable and scalable with admirable objectives. The technological expertise of the team paired with their educational knowledge gives the company huge potential. We are delighted to add the company to our portfolio and look forward to watching them grow and prosper.”

Jan Matern, CEO of Emerge education, said “MakerClub is able to deliver high-quality instruction in digital skills consistently and at scale, which speaks of the team’s engineering, customer service and operations prowess. We are proud to be working with them to build a much needed institution for delivering these types of skills to the next generation.”

About MakerClub: MakerClub is an award-winning weekly invention and technology community for ages 8 to 13, we are based in Brighton but have centres all around the UK. Our sessions are project-based, hands-on and created by real technologists who believe that every child has the ability to become an inventor. For more information visit: www.makerclub.org

About Creative England: Creative England invests in and supports creative ideas, talent and businesses in film, TV, games and digital media. We aim to grow the brightest, the best, and those with the most promise so that individuals and businesses can achieve their full creative and commercial potential. We help identify future opportunities to grow the economy and generate jobs. www.creativeengland.co.uk

About The FSE Group: The Coast to Capital Growth Equity Fund is part of the Coast to Capital Funding Escalator, a £5million initiative funded by Coast to Capital Local Enterprise Partnership. The escalator, which also includes an expansion loan scheme, provides eligible companies with loans and equity funding between £50,000 and £500,000 for activities that will deliver high-growth and employment opportunities.

About Emerge Education: Emerge Education is Europe’s leading edtech accelerator. It provides exceptional edtech entrepreneurs with access to the capital, networks and expertise they need to prove their impact and scale globally so that billions of people can lead more fulfilling lives. Emerge Education provides up to £100k in funding for edtech startups and is based in Hoxton, London. For more information, please visit http://emerge.education/ or contact Jan Matern, CEO at jan@emerge.education

With a family history of stonemasonry dating back to the 1600s, Wood for Stone owner and 6th generation master stonemason, Andrew Wood, is now bringing production at his Manningtree business into the 21st century with the help of an East of England Regional Growth Loan.

With a diverse range of natural stone products that includes fireplaces, staircases, kitchen worktops, and headstones to name a few, the company holds experience and expertise in all aspects of stone which sets it apart from the more limited competition. This wide service offering together with a good mix of corporate and private clients saw demand rise beyond the means of the business during 2016, as Andrew explains: “Our team of four skilled craftsmen developed an exceptional reputation for producing work of the highest quality across a broad range of products and services. This brought a welcome increase in enquiries both from returning customers and new contacts as word of mouth referrals spread. However, last year we reached a point where we were having to turn work away – a situation that no business wants to be in – so we decided to invest in changes that would boost capacity to meet that demand plus allow room for further growth.”

Finance East provided Wood for Stone with a £160,000 loan from the Regional Growth Loan Scheme (RGLS) to purchase a state of the art cutting machine and assist with costs to move the business to a larger unit. The machine has sped up some of the operations that were traditionally done by hand whilst also freeing up skilled employees – including Andrew’s daughter, Laura, the 7th generation stonemason in the family – to produce more of the detailed stonework.

This should enable production to double this year, which will be supported with the addition of two further stone cutters. Stuart Ager, Senior Fund Manager at Finance East which manages the RGLS, says: “By taking steps to increase capacity, Andrew can now look to expand the current market base further, particularly focusing on the commercial sector where there is a significant opportunity to work even more closely with quality builders seeking high end finishes. Wood for Stone’s strong working relationships with suppliers together with its extensive skillset and sector knowledge means that it is well positioned to deliver against the varied needs of its growing list of clients.”

The RGLS is managed by Finance East, part of The FSE Group, on behalf of Local Enterprise Partnerships in the East of England and British Business Bank. The RGLS is available to established, incorporated businesses based within the East of England that have a minimum annual turnover of £100k, show strong growth potential and have a medium to long-term funding requirement to deliver that growth.