What does Brexit mean for MSIF?
MSIF’s current position is not affected by the vote last week to leave the European Union.
Despite being set up to manage EU funding in 1994, MSIF has evolved significantly in the 22 years since it was set up. It has its own fund which was created through returns on earlier investments and manages funding from other sources including the Regional Growth Fund (RGF) and the Government-backed Start Up Loans Programme (SUL).
MSIF’s COO Lisa Greenhalgh said: “We have already received a statement from the Start Up Loans Company confirming that it will not be affected by the outcome of the referendum.
“Having seen first-hand what European funding has achieved in the North West region and beyond, we are disappointed with the outcome of the EU referendum.
“However, the decision has been made and we must now look forward. As yet, nothing changes and we want to encourage businesses to remain positive and continue to trade normally as confidence is key to avoiding a downturn in the market.
“We will continue to support businesses through our funding and network of business support organisations and advisors and will be on hand to help them through any periods of change in the future.
“The legacy of EU support which has created a stronger economy for the North West and put in place fantastic infrastructure for businesses here means there are plenty of reasons to be optimistic for the future.”
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