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, fueled growth plans, and helped to create a more prosperous regional economy.
As part of the Fund’s fifth anniversary, we spoke to a number of businesses that have secured investment to learn more about their NPIF investment experience.
Here’s what they said:
Received investment from NPIF – Mercia Equity Finance
What would you say to other business owners considering NPIF funding ?
“Based on our own experience, I would highly recommend working with NPIF. There are many ways to secure finance in your business, but if you’ve got real confidence in your business plan and have thought it through extensively, you will be able to grow quickly with NPIF funding.
“Although we went with the equity funding option, it may not be
in your interest to give up a portion of your company – will the
benefits of equity financing actually help your business to grow
and take off? This needs to be a fundamental part when it comes to
seeking external finance.”
Received investment from NPIF – Maven Equity Finance
Why did you seek out NPIF – Maven Equity investment?
“Our business had reached a stage where we were looking to select a strategic, institutional equity investor who understood our business and would provide the growth capital required to fuel both our near and longer-term business expansion plans. It was important to know that if we required additional financing further down the line, we could secure it quickly and efficiently from the same source. Furthermore, as a Manchester based business, we were very keen to be associated with the ‘Northern Powerhouse’ brand.”
Received investment from NPIF – Mercia Debt Finance
What difference has NPIF funding
made to your business?
“NPIF funding has allowed us to grow our business considerably over the last 18 months, taking a £4.5m turnover to £7m, saving 75 highly skilled jobs and a £25m Sovereign Asset.
“I would say to other business owners considering NPIF- Mercia funding, that it has professional and skilled experts who have empathy. They are constantly interested in your performance and highly supportive with network introductions. It’s been a pleasure to work with the whole team.”
Received investment from NPIF – FW Capital Debt Finance
What difference has NPIF funding
made to your business?
NPIF and FW Capital have supported us with two rounds of investment, enabling us to expand our laboratory facilities twice, adding space and equipment that has allowed major increases both in capacity and
range of services offered. Our virology department in particular has expanded rapidly following on from NPIF’s continued support, as we continue to improve quality of life through the provision of exceptional, customized
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.
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