Phorest launch £100,000 fund to support businesses

Salon software company Phorest has launched The Phorest Growth Fund, offering £100,000 to support salon, spa and clinic businesses who need a financial stepping stone to facilitate the next phase of their growth.

The fund was launched at the Brave New World Gala Dinner, hosted by Phorest in Dublin recently to celebrate the courage and camaraderie of the hair, beauty and aesthetic clinic community.

Applications to access the fund will be assessed on a case-by-case basis and overseen by an independent panel of industry experts. Current users of the Phorest salon management system may apply to receive funding up to a maximum of £2,000/$2,000 in year one.

Commenting, Phorest CEO Ronan Perceval says: 

"Phorest was literally born on the salon floor - we know what it's like to be at the heart of a business that is striving for excellence, but we are also acutely aware of the challenges facing the industry when it comes to growing that business. 

“We established the Phorest Growth Fund to give back to the community that has given us so much - from our own research, we know that for 42% of salons getting established, business planning and managing the financials of their businesses were the biggest challenges they faced, while 24% struggled with getting appropriate loans or funding. We have taken the next step in our growth journey with a new look and feel for 2022 and beyond; we want to help salons reach their next steps through The Phorest Growth Fund.”

The closing date for applications is 1st May 2022.

Phorest