BUSINESSES in the region are gearing up for expansion, despite the economic downturn, according to a leading law firm.

Corporate finance and banking experts from Ward Hadaway, in Newcastle, say there is a strong push from companies to expand their enterprises with potential sources being examined.

It comes after more than 60 businessmen and women attended a seminar organised by the law firm.

Called Show Me The Money, the event was aimed at showing small and medium-sized businesses the options to access additional capital.

Katherine Hay-Heddle, a partner in the corporate finance team at Ward Hadaway, said: “From the attendance at the seminar and the kind of questions which were asked there, it is clear that there is a real appetite for expansion amongst businesses in the region.

“They are thinking beyond mere survival in the current economic climate and are busy developing strategies and growth plans.”

The seminar also featured presentations and advice from Barclays Bank, Tait Walker Corporate Finance and NorthStar Equity Investors.

■ Ward Hadaway has posted a question and answer piece with some of the key issues raised by the seminar on its website at wardhadaway.com Topics include why banking charges have risen, what funding deals are on offer and what companies need to know about private equity investment.