Greater Manchester Export Fund invests £9m and creates 830 jobs

The Greater Manchester Export Fund (GMEF) is celebrating the culmination of its two year programme after ploughing nearly £9m into Greater Manchester businesses.

Between 2015 and 2017, the GMEF awarded £5.5m in grant funding to 47 projects across the region, creating 601 new jobs and safeguarding 85.

The Fund also provided loans worth £3.4m to generate 230 jobs and safeguard a further 103.

The finance was awarded to regional companies operating in a range of sectors, including fintech, retail, manufacturing and medicine.

Among the loan recipients was GradTouch, which works to enable graduate employers to secure the best graduate talent. The firm used the £250k boost to launch its offer into the European market.

Another was Radcliffe-based manufacturer Molygran, which received a £90k Export Fund grant to finance an extension to its existing premises. The company makes packaging, design and merchandising materials and specialist products for the civil engineering sector.

The GMEF programme was delivered by Business Finance Solutions, Business Growth Hub and the Department for International Trade – all part of the Manchester Growth Company.

Business Finance Solutions director Paul Breen said: “The GM Export Fund has delivered a huge boost for businesses which would otherwise have been held back by not being able to access the cash they need to develop their global trading platforms.

“This innovative approach to grant and loan finance and the creation of so many jobs and opportunities for growth is great news for Greater Manchester.”

He continued: “Companies like GradTouch and Molygran are showing the world that our region is home to remarkable innovation in technology, retail, life-enhancing medical devices, manufacturing and more.

Driving our export market continues to be a priority for this region and we have a range of alternative finance products that are available to businesses who want to explore or expand their export growth, including the Northern Powerhouse Investment Fund (NPIF).“

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