Portal Business Centres in Bromborough welcomes £1m fund to support small businesses in the Merseyside area.

The Liverpool Echo has launched a £1m fund to boost small businesses and create jobs across Merseyside.

The fund is part of the Government’s £2.4bn Regional Growth Fund (RGF) which is designed to create new jobs amid tough economic conditions.

Working in partnership with regeneration agency Liverpool Vision, the Echo will offer cash to small and medium-sized firms (SMEs) across the Liverpool city region.

The emphasis is on job creation and any money given from the fund must be matched by the business itself.  So, if your business is planning a £10,000 investment to help it grow, it would need at least £5,000 of its own money and would be eligible to apply for up to £5,000 from the fund.

The Echo is inviting initial applications and those with best ideas will then be asked to submit detailed business plans. 

Final decisions on funding will then be made by a panel  including Echo editor Alastair Machray, Liverpool Vision Chief Executive Max Steinberg, Medicash Chief Executive Sue Weir, Tony Caldeira, owner of cushion maker Caldeira, ex NorthWest Development Agency chief, Professor Steven Broomhead, Liverpool Chamber of Commerce Chief Executive Jack Stopforth and Asif Hamid, founder of high-flying call centre business The Contact Company.

The idea for the fund came during a meeting between former Minister for Merseyside, Lord Heseltine and Echo editor Machray.

“Lord Heseltine was keen that money from the RGF was used to help small businesses at a grassroots level,” said Mr Machray.  “To quote him, he said he wanted to reach out to ‘the window cleaner from Kirkby’. He said he felt the best way of doing that was through the Echo so the maximum number of businesses got the message loud and clear.  “There is no doubt we are in tough economic times but Merseyside has always had a great entrepreneurial tradition.  “We know there are countless small businesses out there that are itching to grow and to create new jobs – and we are keen to give them a helping hand to do just that.”

 “I think this is a excellent scheme’ Sais Sallie Maskrey, from Portal Business Centres “Small business need encouragement and this fund could provide local companies the boost they need to grow and expand and thus create more employment opportunities in the area.”

To register your interest and find out more visit the Liverpool Echo website.