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Cash Boost For Creative Training

31st January 2006

A Liverpool business is helping to tackle unemployment and improve skills with backing from Merseyside Special Investment Fund (MSIF).

Wavertree-based Creative Training design and deliver a range of training courses aimed at the unemployed and people in low paid jobs wanting to improve their skills and confidence.

Stephen Baker and Simon Squires set up the business a year ago and have now raised a £45,000 funding package including a £20,000 loan from MSIF, support from NatWest Bank and partners' own investment.

Programmes available include legal and medical secretarial, business and management as well as customer service and team-building. After the course is completed, participants are then given help to find a placement with a prospective employer.

Creative Training has already attracted clients including Irish Ferries, Global Air Training and the NHS.

The business works alongside public and private sector partner organisations including Liverpool City Council and Job Centre Plus. to help find new employment for the delegates once they have completed their training.

Partner Simon Squires said: "We aim to deliver courses that help to build confidence as well as teach key skills. People who can't afford the course fees initially can defer payment until they are earning a decent wage.

"There has been big demand for our services and the money from MSIF was crucial to enable us to expand the business. We have now moved into larger premises and invested in new IT systems so we can run even more courses than before."

Chris Walters, Investment Manager of MSIF's Small Firms Fund said: "Creative Training has already brought a significant number of people into employment on Merseyside and we are pleased to be backing this worthwhile business which deserves to do well."

Creative Training currently employs eight staff and is expected to take on a further ten over the next three years. Turnover this year is predicted to reach £200,000 and it is thought it will reach £1m over the next three years.

Ends

For further information contact Angela White at Merseyside Special Investment Fund on 0151 236 4040

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Pic shows L-R Simon Squires (Creative Training) Chris Walters (MSIF) Stephen Baker (Creative Training)

Pic shows L-R Simon Squires (Creative Training) Chris Walters (MSIF) Stephen Baker (Creative Training)

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msif funds

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liverpool seed fund

The Liverpool Seed Fund provides equity-based investments from £50,000 - £750,000 to early stage businesses with IP

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small firms fund

The Small Firms Fund provides loans (not grants) of between £3000 and £150,000

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mezzanine fund

The Mezzanine Fund provides loans between £150,000 and £1m

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venture fund

The Venture Fund provides equity investments of up to £3m