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Top story
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Liverpool company enters Deloitte Fast 50
A Liverpool-based company has made it into Deloitte’s Technology Fast 50, an independent ranking of the UK’s fastest-growing technology companies. Internet service provider Switch Media was ranked 41st after growing 682 per cent, the fourth fastest growing company in the North West. Switch operates all its servers from its own climate-controlled data centre based in the Liverpool headquarters. Managing director Chris Evans said: “We continue to maintain our policy of automation and integration. This has allowed us to keep tight control over costs, but also to expand efficiently while keeping capital expenditure to a minimum.” Nelson-based Daisy Communications was the fastest growing company in the region, ranking 18th overall.
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Deals
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Deck the halls
Wavertree-based Christmas Decorators, which decorates homes, hotels, bars, restaurants and retail outlets for the festive season, has raised a funding package of £50,000, which includes a £25,000 loan from Alliance Fund Managers through the MSIF Small Firms Fund, support from HSBC and directors’ own investment to support its expansion plans. The company was set up four years ago by Liverpool-born director Sarah Bolton and has been approached to franchise the business in the US and Italy. A franchise is also planned in the UK, which will add about 30 to 40 outlets in the next five years. The company, which services clients throughout the UK, employs five full-time staff and expects to create a further five to ten positions during the next three years. Turnover this year is expected to reach £500,000. 
Tenon fund targets distressed investments
Business advisory group Tenon, which has offices throughout the North West, is launching Tenon Capital Management (TenonCap), a fund management business that will set out to raise a new fund, T-Fund LP, to invest in distressed businesses with turnaround potential and with a typical turnover of between £5m and £30m. Tenon Group will be a cornerstone investor in the T-Fund, with an expected commitment of up to £1.5m. The directors of TenonCap, led by chief executive Matthew Bowker, will invest up to a further £250,000.
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Business
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Liverpool’s electric dreams
Liverpool has been named as one of only five local authorities to trial low-carbon vans under a new £20m programme announced as part of a government measures to put Britain at the forefront of a “green motoring revolution”. The government wants to encourage the creation of a mass market in electric and hybrid cars with the potential to create up to 10,000 jobs. Transport secretary Geoff Hoon outlined a £100m commitment to accelerate the development of green vehicles. The Department for Transport has shortlisted ten companies to bid to provide electric and low-carbon vans to councils and other public sector bodies, such as the Royal Mail, to reduce transport emissions.
Merseytravel – power to the people
Transport body Merseytravel has beaten over 1,750 nominated businesses to win the national company award at the Learndirect Achievement Award Ceremony, held at The Science Museum in London. Merseytravel was praised for offering a true learning culture throughout its organisation. Alan Dean, chairman of personnel at Merseytravel, said: “Merseytravel invests heavily in training staff because often they are the first people visitors see when they arrive. This has been especially important this year, with Liverpool being the Capital of Culture.”
Unmanned airship passes test
A new generation BAE Systems airship that could benefit the emergency services by remotely monitoring disasters and help support major sporting events, has successfully completed its first remotely piloted test flight at the Lindstrand Technologies test facility at Birkenhead. This is the first step towards making the GA22 airship a fully unmanned autonomous system. Richard Williams, director of civil autonomous systems at BAE Systems, said: “This groundbreaking step in the development of our GA22 ideally positions us to take advantage of a growing range of new markets for the company. Not only is it made of newer lighter material than any previous airship, but it’s significantly smaller than the majority of its competitors yet delivers the same high level of performance."
Knowledge boost for businesses
A scheme has been set up to encourage businesses to engage with the region’s knowledge base. The Northwest Regional Development Agency and the Northwest ERDF Programme have launched the £4.1m Innovation Voucher scheme for businesses that do not normally engage with the knowledge base of further and higher education institutions and the public sector, with the aim of resolving issues that would increase productivity and competitiveness. The scheme aims to help 1,100 businesses over the next two years.
PRV pulls three projects
Warrington-based Prestigious Retirement Villages (PRV) has asked Allied Irish Bank to appoint administrators to three of its subsidiaries following the withdrawal of funding by the bank. PRV had plans in Lytham St Annes, a former Pontins camp called Middleton Towers near Lancaster and Northwich, although it will press on with plans for a project in Scotland.
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Property
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McLean partners look to future
Langtree, the partner of collapsed property group David McLean, has confirmed its intentions to complete the redevelopment of the Liverpool International Garden Festival site. Managing director John Downes said: “This will inevitably delay progress but will not stop the project. We remain absolutely committed. Having secured planning permission we are drawing up the site remediation and garden management strategy required to move the scheme forward.” English Partnerships, owner of the Kings Waterfront site where McLean and the doomed City Lofts were to build 429 apartments, will seek talks with administrator Deloitte.
No doom and gloom for Liverpool, says DJ
Liverpool has cause for optimism, according to Michelle Steel, author of the Liverpool Crane Survey compiled by consultancy Drivers Jonas ahead of the British Council for Shopping Centres conference in Liverpool next month. Steel told Insider: “There has inevitably been a slowdown as there had been a rush of projects in the lead-up to 2008. But there’s a huge amount in the pipeline – the plans around the Lewis’s store and the new Magistrates’ Court, which will be a 2010 project, being two important schemes. It’s not a doom and gloom situation for Liverpool.”
Redrow picks up award
Flintshire housebuilder Redrow has been named Housebuilding Innovator of the Year for a combination of its regeneration work, community involvement, marketing and training initiatives. The accolade was announced at the 2008 Housebuilding Innovation Awards, which recognise companies for demonstrating a commitment to innovation in the housing industry.
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