Wednesday, March 15, 2017

£400m Northern Powerhouse Investment Fund opens for business in Liverpool! 💪 🌟

Business leaders from across Liverpool have welcomed the £400m Northern Powerhouse Investment Fund (NPIF) as a new source of regional economic development funding to boost the local economy. If you are an entrepreneur, or starting up and are in the North of England, the NPIF could provide the funding needed to help your business reach its full potential.

NPIF has combined £400 million of UK Government, European Regional Development Fund and European Investment Bank funding to help businesses in the region to scale-up. The funding group has been set up by the British Business Bank in conjunction with the Liverpool City Region Local Enterprise Partnership (LEP) and nine other LEPs across the North West, Yorkshire, Humber and Tees Valley.
 
The funding is financed by the European Regional Development Fund (ERDF), the European Investment Bank (EIB) and the UK Government. NPIF provides three different funding options designed to help your business grow. The available finances range from £25,000 to £2 million Equity Investments, specifically to help small and medium sized businesses secure the funding they need for growth and development. Working alongside the LEPs and Growth Hubs, as well as local managers and banks, will provide a balance of debt and equity capital to SMES at all stages in their development.
 
 


 
Following a successful launch in Manchester, we are incredibly excited about the opportunity this fund represents for those small and medium sized businesses in Liverpool that with the right support, could transform the Northern economy. It is important that we now collaborate with our partners to put this money to work and get in front of those businesses that have a real appetite for growth.”
Patrick Magee, Chief Operating Officer at the British Business Bank.
 
"Liverpool City Region has the potential to make an enormous contribution to the economy of the North and the wider UK.  It has the highest proportion of high growth firms in the UK outside London and the South East…It will provide valuable support to our business community, particularly those with high growth potential.”-
Mark Basnett, Managing Director of Liverpool City Region Local Enterprise Partnership.
 
NPIF business partners are excited to reach out to Liverpool City Region and offer businesses the opportunity to make significant growth development.
 
Who can apply? Applications are welcomed from businesses that are based in or have significant activity in the North of England. Eligible businesses may include: New start-ups, Early stage companies and many more. For more information visit https://www.gov.uk/european-growth-funding.
 
Why apply? The funding options can act as a boost for your business in several ways. For example, by: Funding expansion projects, hiring a new team and filling in gaps in working capital.
 
How to apply: Make an enquiry direct to the fund manager on the website. The fund manager will then contact you to see if your business qualifies. From there, you will make a formal application that will be evaluated by your manager and the investment decision will be made.
 
If you would like to find out more, click here.
 
 

 

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