Please note that this article is intended for educational purposes only and should not be deemed to be or used as legal, employment, or health & safety advice. For guidance or advice specific to your business, consult with a qualified professional.
Are you looking for business grants in Liverpool? Or perhaps you’re looking for business finance at more favourable terms than a commercial bank will offer you. Whether you’re starting up a new business or funding your existing company’s growth, there are several business grants and financing options available.
Today, Liverpool’s predominantly service-based economy represents fertile ground for new entrepreneurs with support available for entrepreneurs throughout their business journey. Here, we’ll look at some of the Liverpool small business grants and other forms of funding support available to new and existing businesses.
Business grants in Liverpool
In this economically precarious time, raising funds for your business can be extremely challenging. Especially if you are a new entrepreneur.
Risk-averse commercial banks may offer you a high-interest product that could stymie your company’s profit margins throughout its foundational years. This is why grants are such a great help for fledgling businesses.
Fortunately, there are several business grants in Liverpool that are designed to stimulate economic growth in and around the city, and help businesses offset the cost of growing and innovating.
MSIF High Growth Business Investment
The Merseyside Special Investment Fund has a special funding programme for high-growth businesses. It offers companies grant assistance of up to £75,000 or up to 20% of the total project costs to help businesses expand or relocate to the Liverpool City Region.
Launchpad: Advanced Manufacturing
This is a competitive grant that will be awarded to active businesses that operate in the advanced manufacturing innovation cluster within the Liverpool City Region. Administrated by the Liverpool City Region Growth Company’s Growth Platform, applications are currently closed for the first strand of the initiative. Applications for the second strand, Advanced manufacturing, Collaborative Research and Development (CR&D), Liverpool City Region, Round 2 will open later in 2023.
Liverpool Business Growth Programme
The Liverpool Business Growth Programme does not offer grant assistance directly, but it does offer businesses in the city advice on where they may be able to apply for funding, recruitment and training support and help with transitioning to net-zero.
Liverpool City Region Capital Grant Fund
The Liverpool City Region Capital Grant Fund is delivered by St Helens Chamber of Commerce and funded by the European Regional Development Fund (ERDF). It offers grant assistance of £10,000-£75,000 matching any funds you are able to raise yourself by a maximum of 20%. It can assist with the funding of capital investments for Liverpool SMEs that have been trading for 3 years or more.
Business finance in Liverpool
If your business does not qualify for any of the business grants in Liverpool mentioned above, it still has options beyond commercial loans. The options below are all from non-profit and/or government-subsidised entities that offer business borrowing at much more budget-friendly rates than commercial lenders.
Merseyside Special Investment Fund
The Merseyside Special Investment Fund (MSIF) offers a range of finance options to support businesses in the Liverpool City Region and throughout the Northwest. It offers a variety of finance options including early-stage finance, debt finance and equity finance.
Northern Powerhouse Investment Fund
Finally, the Northern Powerhouse Investment Fund (NPIF) is an initiative launched by the government-owned British Business Bank. It is a £400 million fund designed to assist businesses throughout the region with their growth plans. This includes microfinance, equity finance and debt finance.
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