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HML Metal Recycling has opened a £1.5m recycling plant in Accrington having received funding from The Royal Bank of Scotland and Lombard. HML acquired the empty site a year ago and has spent the past 12 months installing and creating a 24,000 sq ft purpose-built facility on Huncoat Industrial Estate. The company employs 12 people and the new plant is expected to boost turnover from £2m to £2.5m next year and longer term to £5m. The business was established in 1965 and has relocated from its old base in Accrington town centre. 
City heads for the bank With owner Thaksin Shinawatra’s assets currently unavailable, troubled Premier League football club Manchester City has borrowed £35m against the next two seasons' worth of revenues from Sky TV, Insider understands. Although the club would not confirm details of the loan, said to have been arranged through Manchester finance house Blemain with Standard Bank, a spokesman has said “15 other Premier League clubs do the same thing”.
WH Ireland posts pre-tax loss After a turbulent period in the markets, Manchester stockbroker WH Ireland has reported a pre-tax loss of £685,000 for the six months to June 2008 as the group's revenue fell 25 per cent from £21.5m to £16.2m. The loss compares year-on-year with a profit of £3.8m, while the group said conditions had remained difficult since the half-year end. But, after a cash injection of £2.9m from a consortium of new investors, the group was able to report an operating profit of £575,000 and proposed a dividend of 1 pence per share.
Sheahan joins Close Corporate finance adviser Close Brothers has made a further senior appointment to its recently established Manchester office. Dan Sheahan joins as a director from Ernst & Young, where he advised on deals including Speedy Hire's acquisition of LGH and Montagu's acquisition of Isle of Man Steam Packet Company. He joins the office's managing director Richard Pulford, formerly of PricewaterhouseCoopers.
Shares in Warrington-based Healthcare Enterprise Group have been suspended after the departure of Numis Securities as its nominated adviser (Nomad) and broker. The AIM-listed group, which includes occupational health and first aid provider Crest Medical, said it was in talks with an unnamed third-party investor regarding a further capital raising to provide additional development and working capital. Healthcare has until the start of business on 18 September to appoint a new Nomad.
Chadwick in charge of local college audits Manchester-based business advisory and accountancy practice Chadwick has expanded its presence in the education sector. The firm has been appointed as external auditor by Xaverian College in Manchester and Yale College of Wrexham. Led by Kevin Simmons and senior manager Emma White, the education team gained both audits as part of a competitive tender process. Chadwick now acts for 13 education clients in the region.
The best pods in retail Vision Media Group (VMG), based in London and Manchester, has announced the release of its new range of Iconic Pods. One hundred double-sided advertising panels will be installed across VMG's shopping mall network, reaching customers in The Trafford Centre, Lakeside and the Metro Centre and adding an extra 200 advertising screens to VMG's shopping mall network. The purchasing of the pods was funded by Trafalgar Capital Specialised Investment Fund. Further distribution will be self funded by the sale of advertising on installed units. The board believes that VMG will receive an annual net revenue of £3.7m from its total portfolio of 240 screens.
Want more control? Start a business Could your family background make you a strong leader? Six out of ten of Manchester's small business owners are eldest children, according to a survey released today. Alliance & Leicester interviewed 843 company owners across the country. Of the 64 respondents in Manchester, 40 per cent started their businesses between the ages of 26 and 35 and about two-thirds did so because they wanted more independence and control over their lives. The survey was conducted online by YouGov and targeted businesses with a turnover of less than £1m per year.
No rest in the North West More small business owners in the North West are putting in longer hours, according to a Bank of Scotland survey. More than 44 per cent of people interviewed in the North West work more than 50 hours a week. This is two hours longer than the average last year and 15 more than the 35-hour week that a nine-to-five worker typically faces. This increased workload has resulted in 75 per cent of small business owners taking fewer than the minimum 20 holiday days per year and 28 per cent expecting to put in even more hours in the coming years.
BJL thinks big for Morphy Manchester-based advertising agency BJL has created its first campaign for Morphy Richards after being appointed to the appliance manufacturer's roster last year. The Intellisteam will be marketed as "a revolutionary food steamer that does all the thinking for you". The adverts will appear in a range of lifestyle publications for three months from September. BJL, which celebrates its 21st birthday this year, employs more than 75 staff. Clients include Typhoo, British Airways, Eurocamp and Kepak Convenience Foods.
Robots progress The University of Manchester's Tumbleweed robots have made it through to the final stage of the Ministry of Defence's (MoD) competition to find the best new British urban military technology. The contest requires teams to develop autonomous aerial and ground vehicles capable of detecting and identifying threats regularly encountered in urban warfare environments - a common battle arena for British troops. The winner of the competition will win further funding from the MoD to refine their design.
Manchester's commercial property market is on course to defy the gloom by clocking up 1 million sq ft of lettings in 2008, according to the half-year report compiled by consultancy DTZ. The report says that more than 800,000 sq ft is either in solicitors' hands or has been transacted this year, putting the city well on course to top the five-year average of 918,000 sq ft. Director Ken Bishop said: "Ultimately the current correction in the UK economy and property market is a necessity for the long-term health of the market. For that reason it should be embraced despite the pain created in the short term - the immediate challenge is to provide solutions for those suffering this pain."
Bridging Finance hits £75m Manchester-based property funder Bridging Finance has reached the milestone of £75m of lending in two years. Part of Jerrold Holdings, which secured a £900m funding package last November, the business has expanded under Chris Baguley, former head of underwriting at Manchester Building Society, since March 2006. Baguley said: "We had more referrals last month than ever before. I'm being presented with deals that the banks are turning away. Because we can be more flexible on repayment terms we are able to offer funding."
Four sign up in Blackpool Preston agency Robert Pinkus & Co has let 22,000 sq ft of refurbished accommodation at the Vicarage Lane trade park in Blackpool. The development comprises warehousing and trade counter premises near junction 4 of the M55. The lettings include deals with Topps Tiles, Screwfix, Kitchens 4 Less and Planet Kaos. The final unit is under offer.
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