£80,000 investment for North West digital publisher
A North West digital publisher, MyEBook, has received £80,000 funding from the Northern Powerhouse Investment Fund (NPIF).
MyEBook helps businesses to publish magazines, newsletters, brochures and catalogues in real time, bringing in web and email links, video and animation to engage their audience.
Based in Lancashire, MyEBook already works with a number of clients, including ten UK Chambers of Commerce. The loan will be used to help fund further product developments, to move to a dedicated office space in St Anne’s, and to hire additional sales and administrative staff.
Owner Darren Fowler has worked in print publishing for over 20 years and moved into digital eBook publishing when the industry was still in its infancy.
The investment comes from NPIF – BFS & MSIF Microfinance, launched by GC Business Finance in 2017. With MyEBook, the fund has now reached the £3m lending milestone, supporting over 50 businesses across the North West.
Chris Hutchison, Head of Lending at GC Business Finance, said: “We’re hugely proud to be marking our £3m milestone as a fund manager for the Northern Powerhouse Investment Fund. These loans are helping an entire generation of entrepreneurs across the North West to get the support and the confidence they need to start or build their businesses on a local, national and increasingly global stage.
“From innovative tech enterprises designing ground-breaking AI products to traditional manufacturers, the companies we have helped with NPIF investment programme are driving forward our economy by creating jobs, stability and diversity in the region and we look forward to helping many more local entrepreneurs to reach their own business and growth milestones.”
Sue Barnard, Senior Manager at British Business Bank, said: “Just two years into this fund’s life, we can already see NPIF investments having a measurable impact on business growth in the North of England. The investment in MyEBook exemplifies the work that NPIF is doing across the North. By supporting businesses with the funds to boost headcount and move premises, we are creating a more prosperous regional economy for the future, and in turn helping to reduce the historic regional disparities between the North and the South.
“Whilst there is more to do to balance the regional disparities across the country, I am looking forward to our third year, during which NPIF will continue to support established and emerging businesses in the North.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union.