Time is running out for businesses to get their hands on a grant to help them pay for consultancy or agency fees to help them grow their business.
More than £1million from the New Markets 2 pot has already been paid to businesses in the Liverpool City Region, helping 291 businesses and creating more than 280 jobs.
Funding is still available from the project but the deadline for applications is 31 March 2023, meaning businesses need to act quickly to take advantage.
Managed by Growth Platform – Liverpool City Region Growth Company, eligible businesses can receive a 35% contribution to the cost of consultancy or agency fees which can include financial advice, HR support, legal advice, export, as well as strategic development including marketing and sales.
Janice Mears, Head of Business Growth at Growth Platform – Liverpool City Region Growth Company said, “New Markets 2 has been a fantastic success over the past seven years helping 291 businesses in the Liverpool City Region access high-value commercial business advice and support to help their businesses grow and develop, but this money isn’t going to be around for much longer.”
“35% towards this support could make all the difference to a small or medium-sized business and could be the difference between being able to expand and just stand still.
“To simplify the process even more we also launched, last year, New Markets 2: Express for projects between £3-£5k. This new simplified process helps to speed up the process for businesses looking to access 35% grant funding.
“I would urge all SMEs in the Liverpool City Region to consider what a grant could do to help you and get those applications in as soon as possible before all the money is allocated.”
Examples of businesses which have successfully accessed New Markets 2 ERDF include:
- Skyhook Games provide high quality 2D & 3D art for the video games industry. The company used a New Markets 2 grant to form a new product development department. The funding enabled them to bring in expert consultants in gameplay programming on a short-term basis to help develop the department, which has accelerated not only the creation of jobs but also a new sustainable income stream at the company.
- Multiple award-wining company ThinK Wine used funding from New Markets 2 to help with towards the cost of an interim Finance Director to help the company with forecasting and establishing budgets to ensure the business was on a sound financial and operational footing. ThinK Wine was finally launched, after 18 months in development, selling their first bottles in September 2019.
- Tulway Engineering Ltd received a New Markets 2 grant for PR and Marketing support for their businesses. The grant has led to an increase in work, and as a result have increased our headcount by around 20%, with the company still actively looking to recruit further.
- Outdoor education and activity centre, Barnstondale, developed and built a new brand and website after receiving a New Markets 2 grant through Growth Platform. This also enabled them to also re-brand and provide a much-improved customer journey.
Part-funded by the European Union; the programme was developed by Growth Platform working with local partners across the City Region.
The New Markets 2 Fund is available to businesses until 31 March 2023.
More information can be found at Growth Platform’s website here
Image: Janice Mears, Head of Business Growth at Growth Platform – Liverpool City Region Growth Company