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Grant Peggie, director at British Business Bank, at the launch of the Northern Powerhouse

The Northern Powerhouse Investment Fund (NPIF), supported by the European Regional Development Fund, has achieved a number of significant milestones over the last three months, owing to the strong momentum generated across the region. Having been a part of its development from the beginning, it has been exciting to see NPIF being effectively utilised to make a real difference to businesses in the North.

The achievements we’ve witnessed so far are testament to the entrepreneurial spirit found in the North. Our fund managers continue to witness high numbers of enquiries from SMEs seeking finance, demonstrating the unwavering demand from Northern businesses to pursue growth. As a result of this, NPIF is now investing actively in all 10 LEP areas across the Northern Powerhouse region.

Across the business community, it has been pleasing to see corporate finance advisors, the Growth Hubs, banks and accountants, all referring clients to the fund managers.

Recently NPIF hit yet another milestone as it reached its 100th deal. I’d like to thank all the fund managers and everyone involved in the participating LEPs for their collaborative effort in ensuring vital funds are efficiently invested in high growth businesses. I would also like to express my gratitude to the project team at British Business Bank, who continue to work behind the scenes to deliver what is proving to be a hugely impactful Fund

While NPIF has taken great strides in supporting growing businesses in the region, by working together with our fund managers and other partners we can do even more for the regional economy. We look forward to seeing what further opportunities NPIF can bring for other businesses in the North as we continue our quest to unlock the potential of the region and create a stronger Northern Powerhouse.

Grant Peggie
Director at British Business Bank

Editors Notes

 

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