Northern Powerhouse Investment Fund facilitates £1bn of investment into Northern businesses

THE Northern Powerhouse Investment Fund (NPIF) has surpassed a significant milestone, facilitating the investment of more than £1 billion for businesses in the North of England, through £405m of direct and £613m private sector co-investment.

Launched in 2017 by the British Business Bank, NPIF provides commercially focused finance through its microfinance, debt and equity finance funds which offer financing ranging from £25,000 to £2m, specifically to help small and medium sized businesses secure the funding they need for growth and development.

To date, it has supported 1,188 companies through 1,636 investments and has also helped create over 7,900 jobs across the Region. The North West has secured £537m of direct and private sector co-investment since the launch of the Fund.

Recent success stories include MyPura, a husband-and-wife founded eco-friendly nappy company that recently expanded internationally into the USA.

Founded in 2019, the Cheshire-based company secured a £4.25m funding round in February 2022. Used to expand its B2B sales and drive international growth, the transaction included £4m of funding split evenly across the Maven VCTs, NPIF; Maven Equity Finance which is part of the Northern Powerhouse Investment Fund, and Maven Investor Partners. In June 2023, MyPura announced that it had secured a deal with Walmart to supply its products to American consumers.

Elsewhere, NPIF; Maven Equity Finance invested £750,000 into Manchester-based inTEC, a cloud-based provider of end-to-end technology solutions, across 2 tranches in 2018 and 2019. inTEC used the development capital to build a group infrastructure and support a recruitment drive that created over 40 new jobs.

The £1bn milestone follows the recent news that the British Business Bank will be launching a second Northern Powerhouse Investment Fund (NPIF II) a £660 million investment fund to support the growth of small and medium-sized businesses across the North of England in early 2024. The current NPIF fund will continue to invest until the end of the year.

NPIF II is 1 of a series of new Nations and Regions Investment Funds being launched by the British Business Bank which will deliver a £1.6 billion commitment of new funding to drive sustainable economic growth.

Ken Cooper, Managing Director at British Business Bank, said:- "The Northern Powerhouse Investment Fund has enabled over a thousand small businesses in both traditional and new industry sectors to benefit from access to finance. The Fund has made an incredible impact, not only through its own investment, but in its ability to attract extra private sector co-investment, boosting Regional business and creating new opportunities for local people. We are seeing a growing catalogue of success stories, with businesses we invested in several years ago now realising their full potential and further increasing the financial and economic impact of NPIF funding."

A ¼ of Brits think artificial grass should be 'BANNED' as demand drops by 48%

CLOSE to a ¼ of people in the UK would be happy to see artificial grass lawns banned, while a further 57% state they would never install it in their own gardens.

According to brand new data from MyBuilder.com, a platform that matches reliable tradespeople to homeowners, 24% of Brits would like a full ban on fake grass. This is supported by more recent data from MyBuilder.com, which shows that enquiries for artificial grass installation are down 48% year on year.

The new research showed that while a ¼ of Brits would support a ban, 33% believed that there should be measures put in place to limit the usage of such materials, to help protect the environment. While 57% overall stated they would never install artificial grass in their garden, the over 55s were even more anti, with a massive 68% saying they would not consider it.

Geographically there were some interesting variations in opinion. The Welsh were the most against artificial grass, with 34% suggesting that a full ban should be put in place, while in Northern Ireland only 18% felt the same.

Across Cities, there was also a wide variation, including:-

• Bristol was the most in support of a ban, with 38% stating they would welcome it.
   

• Cardiff was right behind with 36% in support.
   

• In Edinburgh, 29% were in support, and traditionally "green" Brighton saw a 27% vote for a ban.
   

• Newcastle was the least in support of a ban, with just 9% stating they would support 1,

Research that supports this data, released by MyBuilder.com in June, has shown that:-

• Year on year demand for artificial grass is 48% lower.
   

• Demand for artificial grass in 2023 is 66% lower than in the same time period in 2021
   

• Demand for garden maintenance is higher than ever, with an increase of 15% YoY in May and 87% increase for 2023 compared to 2021.

Expert landscaper James Lewis, who works with MyBuilder.com, said:- "Recent negativity about artificial grass in the media; plus the Welsh Government's attempt to introduce a ban; have caused the public to start to turn against it. I'm not surprised to see these results, and it certainly seems that more people are deciding against installing artificial grass in their garden. While it's not for everyone, and there are some obvious concerns for its 'green' credentials, there are still benefits to having an artificial lawn. If you are thinking about it, we'd advise you to carefully weigh up the pros and cons before investing in it."

To help those thinking about it decide, experts from MyBuilder.com have compiled a list of the advantages and disadvantages of installing an artificial lawn:- 

Pros...

• Looks aesthetically pleasing all year round... No brown spots, bald patches, or muddy puddles here! There's no denying that an artificial lawn looks nice and maintains its appearance, whatever the weather.
   

• No need for watering... No live grass equals no need for watering in the summer. Saves you time, and money, off your monthly water bill. Also useful when the inevitable hosepipe ban comes into play.
   

• Low maintenance... No mowing, no watering, no reseeding; there's no doubt that an artificial lawn is easier to look after than a natural 1.
   

• Easy to clean... We all know the risk of unseen pet poo and urine on our lawns, but with an artificial lawn you can easily hose it down to keep it sparkly clean.

Cons...

• Cost to buy and install... Although once in place it may save you money, buying and installing your artificial lawn is likely to be a several thousand pound cost. The average cost for installation in an average size garden is between:- £1,200 to £2,500.
   

• Impact on natural habitat... Removing natural grass undeniably has a negative effect on the environment, with the loss of habitat for bugs and wildlife.
   

• Drainage implications... Although this varies depending on product and installation, an artificial lawn does not drain as well as a real 1. This can cause issues in areas where flooding is a problem, such as in new build estates built on previous flood plains, or in areas close to bodies of water.
   

• Can get too hot... Artificial lawns can get too hot for little feet and paws, causing blistering and burns. Vets from Joii Pet Care have recently warned owners that artificial grass can be perilous for pets, and advised caution when allowing pets onto it.

For a more details list of geographical results and full report, visit:- MyBuilder.com.

So what are your thoughts on this issue? Should Gardens get the plastic fantastic look, or should we drop the look for good?  Full story from Unearthed will be available here. Please do let us know your thoughts on this news topic... Email our Newsroom at:- News24@SouthportReporter.Com or send us a message on:-  Mastodon, Facebook or Twitter.