Newcastle based Arcus Studios sealed a £150,000 investment from the North of Tyne Culture and Creative Investment Programme, to help it boost work with clients which already include the likes of BBC, E4 and the McMillan Trust. The company says it will use the capital injection to aid cashflow stability, staff team expansion, and value addition through enhanced financial governance.
The deal marks the latest for the investment programme, a partnership between Creative UK and the North of Tyne Combined Authority, which offers financial and business support to those working in the cultural and creative industries in North Tyneside, Northumberland and Newcastle.
Read more: People on the move: key North East appointments and promotions
Michael Gandham , co-director and creative producer of Arcus Studios Ltd said: “We’re really excited about the opportunity that this loan offers for Arcus Studios to reach its potential. It will enable us to hone our sales and marketing skills and employ the right talent to allow us to expand and diversify our offer and well as ease capacity issues within the core team.
“Creative UK have been a joy to work with and they relayed the procedures and applications in a non-daunting way that made the whole process so much easier. I would encourage any creative businesses in the region looking to address capacity issues or skills gaps, who just wish to expand their offer, to apply.”
Meanwhile, NEL Fund Managers announced it last year completed its busiest ever year after making investments in regional firms worth a total of almost £5.9m.
The Newcastle based organisation completed 62 separate investments in businesses across Tyne and Wear, Northumberland and County Durham during 2022, topping last year’s previous record total by just under £250,000. It is now set to increase its focus during 2023 on making investments in regional businesses that are contributing to the ESG (environment, social and governance) agenda.
NEL is responsible for managing two elements of the £120m North East Fund Supported By The European Regional Development Fund - the £9m North East Small Loan Fund and the £18m North East Growth Capital Fund.
Jonathan Luke, chief executive, said: “There’s no denying that 2022 has been a tough year for many, but it has also proved once again how incredibly resilient and resourceful the North East business community is – success is often hard won and that enduring mindset will see many companies through these difficult times. We’ve taken confidence from the positive and progressive conversations we’re having with many current and potential investees on the ways in which they’re working to overcome the challenges that we’re all facing, and overall, the regional economy seems to be coping better than might have reasonably been expected."
The company behind the Great North Run secured a five-year sponsorship deal with Manchester-based investment platform AJ Bell.
AJ Bell has become the title partner of the Great Run Series, which includes the company's events in Glasgow, Newcastle, Manchester, Birmingham, Bristol and Portsmouth. The move follows changes at the Gateshead-based company last year including the appointment of former BP managing director Peter Mather as chairman, replacing Sir Brendan Foster who became president of the business.
At the same time, chief executive Paul Foster said the company had ambitious expansion plans in place for the next five years including the introduction of an ultra-marathon event in the Lake District National Park and investment into the company's production outfit, Film Nova. As the UK's largest running event and the world's largest half marathon, the Great North Run alone will afford AJ Bell significant exposure as it is televised live on the BBC and in 169 territories around the world.
Mr Foster said: "Supporting mass participation sport is more important than ever and we’re delighted AJ Bell will be alongside us as we deliver our events that benefit over 200,000 participants and countless charities every year. AJ Bell already helps hundreds of thousands of people look after their investments and we‘re excited to be working with them over the next five years to inspire, motivate and empower people to be their greatest through the Great Run Series."
READ NEXT
