We learnt in April 2011 from the local media that the Liverpool Echo had been awarded a contract, or been successful in their application, to distribute part of the Regional
Growth Fund (RGF). The RGF was set up by the Coalition Government, to provide a cash investment to "create jobs, encourage private investment and support areas dependent on the public sector."
We were told in early December: "The Echo will use its share of the money to help small and medium-sized companies. During an 18 month campaign it will run competitions to give grants of between £10k and £100k to SMEs to promote expansion, increased sales or diversification into a new market. It will also offer mentoring and coaching to help the companies that receive the grants." It was also confirmed in the media that "the scheme will also create favorable publicity for the SMEs involved."
The Department for Business Innovation and Skills (headed by the Rt Hon Dr Vince Cable MP) confirm on their website:
"The Regional Growth Fund is a £1.4bn fund operating across England from 2011 to 2014. It supports projects and programmes that lever private sector investment creating economic growth and sustainable employment. It aims particularly to help those areas and communities currently dependent on the public sector to make the transition to
sustainable private sector-led growth and prosperity."
So far so good.
Elsewhere on the Department's site the list of allocated/bid for money is disclosed. Have a look at: www.industrialcommunitiesalliance.org/.../rgf_round_1_details.doc. Makes interesting reading.
This is the only mention I have seen that the fund for Liverpool has been awarded jointly to the Echo and West Daily Press. The Echo are to adminster the fund for small businesses. The West Daily Press are more specific. They will offer a " job creation project aimed at small and medium businesses in the region, will offer a number of match-funded grants (Partner with Liverpool Echo)".
There has been no indication or information from the Echo, since they were awarded the money last year, how the distribution was to take place and how smes could apply. Whether it be a grant, whether match funding is required, whether competitions need to be entered – who knows?
In some ways it was great to see a private sector business responsible for allocation of funds. It is the delay in dealing with the how and what that has given rise to comment:
"Shouldn't they have a strict deadline and be open?"
"If there wasn't a plan on how to run the process, why was the money awarded in the first place?"
"The biggest part of the pot has already been carved up by the BIG guys, it's how much is left that will be the competitive part of the process, the crumbs if you like. But remember, to some of us, a crumb could well be a full loaf, in relative terms."
It would really help if the Echo could announce its plan or scheme. Or just confirm how applications are to be made. Or supply the details of the competitions it is going to run. I agree that the "crumbs" of the fund could make a huge difference to a lot of smes here in Liverpool and on Merseyside.
