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Access to finance: incubator helps SMEs take off

The majority of funders pledge support for start-up companies and young entrepreneurs, but only one, Santander, has launched a dedicated incubator in the North West. The facility is housed at its corporate banking office in Liverpool's St Paul's Square and will be home to up eight small firms. Among the first wave of companies benefiting are ADM Creative, Interview People Online and Greenfinch Graduations. It opened in the summer and was officially launched in July by Santander's then UK chief executive Ana Botin during the International Festival for Business. Santander says it is the first UK bank to create a physical environment which provides early-stage small firms with fast-growth potential access to space, facilities and advice. The scheme does not take equity in the start-ups nor charge for office space, which its users can access for a year. Simon Carrier, Santander's regional director for Merseyside, Cheshire and North Wales, said the incubator is about taking a new approach to the SME market. 'It's not just about finance, but about trying to build a proper relationship. I think the incubator is unique and it's great that the first one is here. We want to create a community where ideas, experience and contacts are shared.'

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

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