Pridie Brewster Corporate Finance (PBCF) and the BPIF have been working to prepare a bid to be among the pilot Enterprise Capital Funds (ECF) initiative.

These funds are designed to provide access to growth capital of up to 2m for smaller businesses. Funding will be a mix of private investment but with the government providing up to twice the private finance.

Weve got the angels [private investors] in place, said PBCF managing director Peter Petyt. We want to get one of those funds.

Although PBCF has already spoken to firms who would like to take advantage of the finance from a sector specific ECF, it is keen to get more print, paper, packaging and publishing firms involved.

The more entrepreneurs we can get the more chance there is of success, said Petyt. We need to show there is an interesting pipeline of propositions.

The government expects to publish further details of how the schemes will work in May so potential operators of ECFs, such as PBCF, can consider the scheme.

Before that the scheme has to pass EU regulatory approval. If granted, bids to run the ECFs will be submitted to the government with the first funds expected to be up and running by early next year.

Petyt revealed the companys plans to bid for an ECF at an event, bringing together companies with managers and financiers, which it organised with interim management specialists Intramezzo and Ashton Penney.

Story by Barney Cox