A NEW source of finance to support business in the North-East needing help with their cash flow or a turnaround has just been launched by specialist business angel network Beer and Young with the appointment of business turnaround expert Mark Blayney.

Managing director, Nick Young, said: “We are delighted that Mark has accepted appointment as an associate to act as our representative in the North- East “Mark trained with PwC, is a member of the institute for turnaround and has also written a number of successful books on raising finance, business turnaround and buying and selling businesses.

“Mark has worked for many years as an independent turnaround consultant and finance arranger, as well as being involved in buying and running manufacturing businesses, so he is well placed to understand the issues facing business owners.”

Mark Blayney said: “In the present circumstances I believe that access to this sort of funding will provide a vital lifeline to many businesses unable to obtain finance from traditional lending sources. So I have not been surprised to have already had over a dozen enquiries from businesses in the region looking for help, and I’m pleased to say we have already arranged our first investor meetings.”