A business consultant is encouraging local firms to support each other and attract funding in a unique way - by meeting at the pub!
Adrian Ashton is advocating the “pub finance” approach, where business owners meet over a drink at their local to discuss how they can support each other, encourage growth and create new jobs.
“It’s looking at business funding on a local level,” Adrian said.
“The aim is to help small business owners, show them how to raise finance, particularly how to do it without going to the bank.
“It’s companies financing themselves by meeting up and investing money.”
He is also promoting the idea of “business angels”, who he describes as people who see potential in a business and want to invest.
“It’s always surprised me the number of small business owners who go to the bank when there are other options that are more flexible and have better terms,” Adrian said.
“Encouraging people to invest in local businesses can be a benefit for the town. If people put their own money in, they are much more likely to go out there and talk about that business and effectively become a sales agent for it.” Adrian has been involved in programmes with Goldman Sachs and Manchester Metropolitan University which offer planning and development advice for small firms.
If any local business owners are interested in discussing the “pub finance” model, Adrian is willing to meet them and talk it through further.
“If people think that’s something that might be of interest, I’m always looking to have a chat,” he said.
“I do that because it’s the right thing to do and it’s a good thing to do. It might lead to something bigger and better.”
For more information, visit www.adrianashton.co.uk