Norman Stoller gives £1m to Oldham young enterprise fund

A NEW fund, backed by private and public cash including a £1m donation from businessman Norman Stoller, has been launched in Oldham.

The Oldham Enterprise Fund will offer financial and expert support to help encourage young people kn the borough to start their own business. It is a central plank of Oldham Council’s campaign aiming to create 2,015 jobs by 2015.

Partners alongside the council are the Oldham Business Leadership Group, the Business Growth Hub, and Blue Orchid.

Young people are the fund’s primary target, officials said at the launch today.

Mr Stoller, whose family founded healthcare business Seton in the town, is now an investor and benefactor. His donation will sit alongside a new Council pledge to guarantee every young person in Oldham leaving education at 18 an employment or training opportunity by 2015.

 The money, from the Stoller Charitable Trust, is being channelled into the fund, designed to find the next generation of local business men and women who need a ‘hand up’  with their ventures.

Cllr Amanda Chadderton, cabinet member for education, employment and skills, said: “The Oldham Enterprise Fund is an integral part of the Council’s ‘Get Oldham Working’ campaign and it is a fantastic boost for new and existing businesses.

“It involves encouraging enterprise in Oldham, creating a strong skills system which meets local economic demands and bringing more employment opportunities to the Borough.

 “This is also a great chance for young entrepreneurs to receive vital tools or equipment for marketing and growing their business. The ambition is to make Oldham a proud destination where businesses can thrive and grow.”

Richard Jeffery, Director of the Business Growth Hub, added: “Running your own business is rewarding and demanding in equal measure and we want to let people know about all the support and advice that is available to them to help set up and grow their companies, from accessing finance to mentoring and marketing.”