Launchbox investment

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Two businesses in west Cornwall are celebrating this week after receiving investments worth almost £10k from a local charity business initiative.

The investment comes from The Launchbox, a Dragons’ Den-style enterprise that offers support for self-employed people with good business ideas.

Businesses are invited to submit an application to The Launchbox and then, if selected, present their ideas on front of a panel of business experts who will then decide whether or not to invest.

Steve Jones and Ollie Lytton from Penzance Carpentry with Janet Ross from The Launchbox, and John Dowling and Louis Bauress from The Cornish Banjo Company
L-R: Steve Jones and Ollie Lytton from Penzance Carpentry with Janet Ross from The Launchbox, and John Dowling and Louis Bauress from The Cornish Banjo Company

The successful businesses were Penzance Carpentry, which is looking for investment to purchase workshop equipment, and The Cornish Banjo Company, who sought finance to produce its first range of instruments.

The panel who selected the businesses for investment consisted of former CBI director-general, Sir John Banham; Kim Conchie, chief executive of the Cornwall Chamber of Commerce; Susan Stuart, former director of Thrive; and Launchbox trustee, Tim Dwelly.

Sir John Banham said: “It’s really exciting to see the level of ideas for businesses that could have a positive impact on the future health and vitality of the community, and the economy of West Cornwall.”

To apply to The Launchbox, which is based at The Workbox, Penzance, businesses need to be based in Penwith, already trading and have a have a good proposition. The Launchbox has more than £50k to invest annually.

The Launchbox is now seeking more revenue to invest in local businesses and has launched a Crowdfunder campaign calling for people to make donations to help the scheme.