Scottish entrepreneur David Broom has achieved a significant milestone by securing the first deal with the Northern Powerhouse Investment Fund II (NPIF II). His dynamic storytelling brand agency, B7, based in Newcastle-upon-Tyne, has received an investment from NPIF II – NEL Smaller Loans. This funding will enable B7 to expand its team, invest in state-of-the-art equipment, and explore new business opportunities, including a potential expansion into the US market. This deal marks a pivotal moment for Broom and his agency, setting the stage for accelerated growth and innovation.
A Strategic Investment for Growth
The investment from NPIF II is a game-changer for B7, providing the necessary capital to scale up operations and enhance its service offerings. Founded by David Broom in 2020, B7 has grown organically, focusing on management and business growth consultancy. With the new funding, B7 plans to recruit three additional team members over the next six to eight months, effectively doubling its workforce. This expansion will allow the agency to specialize in specific marketing functions and capitalize on emerging business opportunities.
Broom’s vision for B7 includes leveraging the investment to acquire advanced technology and tools, ensuring the team has the resources needed to deliver high-quality projects. The agency aims to create specialized offerings in sectors such as construction, recruitment, retail, technology, and financial services. This strategic approach will enable B7 to cater to a broader client base and drive sustainable growth.
The partnership with NPIF II and NEL Fund Managers is a testament to B7’s robust growth plan and potential. Susan Snowdon, investment executive at NEL Fund Managers, expressed confidence in B7’s future, highlighting the agency’s ambitious plans and the positive impact of the investment on its development.
Expanding Horizons: US Market and Beyond
One of the most exciting aspects of the investment is B7’s early-stage plans to expand its geographical reach, particularly into the US market. With existing networks in the construction industry, B7 intends to leverage these connections to establish a foothold in the US. This expansion is part of Broom’s broader strategy to position B7 as a global player in the dynamic storytelling and brand agency space.
The US market presents significant opportunities for B7, given its size and diversity. By entering this market, B7 can tap into new client segments and enhance its competitive edge. The investment will support the agency’s efforts to navigate the complexities of international expansion, including regulatory requirements and market entry strategies.
Broom’s entrepreneurial journey from Glasgow to Newcastle and now potentially to the US underscores his commitment to growth and innovation. His ability to identify and seize opportunities has been a driving force behind B7’s success. The NPIF II funding will further empower Broom to execute his vision and achieve new milestones.
The Role of NPIF II in Supporting Entrepreneurs
The Northern Powerhouse Investment Fund II plays a crucial role in supporting entrepreneurs and businesses across the North of England. Launched in March 2024 with a £660 million fund, NPIF II aims to provide debt and equity finance to help businesses start up, scale up, and continue their growth journey. The fund builds on the success of the first Northern Powerhouse Investment Fund, offering a range of financial products to meet the diverse needs of businesses.
For B7, the investment from NPIF II – NEL Smaller Loans is more than just financial support; it represents a partnership that aligns with the agency’s growth ambitions. The fund’s focus on fostering innovation and entrepreneurship resonates with Broom’s vision for B7. This collaboration highlights the importance of accessible funding in driving business success and economic development.
The NPIF II’s commitment to supporting businesses like B7 underscores its role as a catalyst for regional growth. By providing the necessary resources and expertise, the fund enables entrepreneurs to pursue their goals and contribute to the broader economic landscape. The success of B7 serves as an inspiring example of what can be achieved with the right support and investment.
