London Stock Exchange urges Liverpool SMEs to tap into 'huge' scaleup opportunity

SMEs in the Liverpool City Region are missing out on a huge scaleup opportunity, according London Stock Exchange Group (LSEG).

Officials from the organisation are calling on businesses in the area to get involved in its ELITE programme, which offers growing firms a package of support and access to investors.

ELITE UK head Umerah Akram and Mark Fahy, LSEG’s head of UK small and mid-cap companies, addressed an audience of businesses and advisors at a Professional Liverpool dinner last week, during which they discussed the programme and its potential to help City Region firms scale.

LSEG said there are currently no Liverpool companies on the ELITE programme. Of the 90 UK businesses involved in the programme, 10 are from the North West.

The chair of the Professional Liverpool Corporate Finance Group, Matt Noon, said: “It’s clear that the North West, and indeed Liverpool, is awash with talented, high growth businesses and investment is happening, particularly in the tech sector.

“But we feel there are many more Liverpool City Region-based businesses which could benefit from programmes like ELITE and we’re keen to promote this to both clients and the local advisory community.”

Matt, a corporate partner at law firm Hill Dickinson, continued: “The programme offers real potential to further boost economic growth in the city and surrounding areas and, as the organisation representing professionals, we’re keen to drive this, not only for businesses but for advisors.”

LSEG’s Mark Fahy said: “There is huge opportunity to further stimulate business growth in the Liverpool City Region through the programme.

“There are opportunities to get involved in April and November each year, so businesses should get in touch if they’re interested in accelerating their growth plans and broadening their range of specialist advice.”

To qualify for ELITE, LSEG said a business has to commit at the most senior level (CEO/CFO) for at least 18 months, have revenues of £5m or more and demonstrate both progress to date and potential for future growth.

Speaking at the event, which was held at the Royal Liver Building, Umerah Akram explained that the programme was created to help SMEs prepare for next stage of their growth with access to long-term financing opportunities.

She added: “Nearly 500 companies from 25 countries have joined ELITE to date, generating €39bn in combined revenues and accounting for over 170k jobs across Europe and beyond.”

LSEG delivers the ELITE programme in partnership with Imperial College Business School, along with various advisory and investor partners.

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