26th July 2022
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The Northern Powerhouse Investment Fund was set up to make a real and measurable difference to businesses across the North West, Yorkshire, the Humber and Tees Valley. It has since led to the creation of thousands of new jobs, fuelled growth plans, and helped to create a more prosperous regional economy.
As part of NPIF’s 5th anniversary, we spoke to eight businesses that have secured investment to learn more about their investment experience.
Liverpool-based Green Bell Packaging secured a £100,000 investment from NPIF – BFS & MSIF Microfinance, which is managed by MSIF in partnership with GC Business Finance as part of the Northern Powerhouse Investment Fund in May 2022. Since then, the business has expanded its eco-friendly product range and created new job roles.
We spoke to Vahid Nagori, Founder & CEO at Green Bell Packaging, to ask about the impact of investment from MSIF and the Northern Powerhouse Investment Fund – here’s what he had to say:
Why did you seek out NPIF investment?
“After introducing the first completely plant-based mailing bag to the UK market during lockdown in 2020, we were in a strong position to expand our business further with a new plant based product range. We needed to increase our headcount and bolster our marketing strategy for this new range, which required additional support and funding.”
Why was microfinance the right finance option for your business?
“With a clear expansion strategy, microfinance was available to fill the funding gap for our growth project. It was the perfect vehicle of funding for us at this stage and accelerated our journey to launching our most innovative product to date, the BioBag.”
What difference has NPIF funding made to your business?
“With NPIF support, we are placed in strong stead as our business expands rapidly. We have used the funding to create two new jobs to keep up with the demand for our environmental products. The funding has also played a crucial role in helping us fill working capital needs and cash flow for our growth activities.”
What new opportunities has NPIF provided you?
“The pandemic slowed down the launch of our new products, and NPIF investment gave us the cash flow we needed to go further. After securing microfinance, we were in a strong position to launch our new plant-based product range more aggressively. We now have an impressive client list across several sectors including hospitality, retail and e-commerce and food & drink to name a few, and we have also worked with some of the UK’s largest high street retailers and wholesalers.”
What would you say to other business owners considering NPIF funding?
“NPIF helped bring our expansion plans to life and take action accordingly, helping us proliferate our product lines and offer a fresh sustainable approach to packaging for our consumers. Protecting the planet is a key ethos of our business and a pillar from which it was built and founded, and the NPIF team were keen to help us achieve our environmental goals.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
The MSIF group of funds are managed by Alliance Fund Managers Limited which is regulated by the Financial Conduct Authority in the course of investment business. Financial Conduct Authority Registration Number is 180891.
BFS Funding Managers Limited is regulated by the Financial Conduct Authority as a Small Authorised UK AIFM under firm reference number 608682.
If you would like to meet with one of our appointed Fund Managers to talk in more detail please go to 'Funds Available' to find the Fund Managers operating in your area
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