£1m fund will not affect Echo's editorial integrity, says Machray

Liverpool Echo editor Alastair Machray has rebuffed the suggestion that his paper's £1m small business fund could compromise its editorial independence.

The Echo launched its Business Booster campaign last week and will give grants of between £10,000 and £100,000 to small and medium-sized firms to promote expansion, increase sales, or diversify into a new market.

According to a statement issued in December the scheme, "will also create favourable publicity for the SMEs involved".

Machray, pictured, told How-Do the paper got involved because of its ability to publicise the fund, which is backed by £1m from the government's regional growth fund.

He said: "We will seek to publicise winners as businesses that have demonstrated their ability to create jobs and to drive the economy forwards.

"Publicising businesses like that would not compromise the editorial independence of the paper.

"We seek to cover businesses that are doing great things. If one receives money and goes bust, we'll cover it."

The paper is now inviting initial applications, and those with the best ideas will be asked to submit detailed business plans.

It is not involved with the administrative side of the fund, that is being managed by Liverpool City Council's economic development company Liverpool Vision.

"We're not set up to administer government funds of £1m," said Machray. "I don't have £1m in used notes under my desk."

However, Machray will sit on a judging panel that will decide on the final awards, alongside Liverpool Vision chief executive Max Steinberg; Medicash chief executive Sue Weir; Tony Caldeira, owner of cushion maker Caldeira; ex-NorthWest Development Agency chief, Steven Broomhead; Liverpool Chamber of Commerce chief executive Jack Stopforth; and Asif Hamed, founder of call centre business the Contact Company.

Machray admitted that his paper's involvement in the fund was an "interesting experiment".

He added: "The one thing we do bring is an ability to reach a big number of people. We can showcase businesses that are successful and there's also a commitment that the money will go to businesses - not siphoned off in consultancy fees."

The fund is for any business but the paper is encouraging applications from those in four target growth areas – visitor economy, low carbon economy, superport and knowledge economy.

Any award must be match-funded by the business.

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