Greater Manchester is boosting its local businesses and essential services with a major £1 million investment. The Greater Manchester Combined Authority’s Foundational Economy Innovation Fund has announced its second round of funding, backing 21 organisations to scale up projects that support communities, strengthen high streets, and improve everyday services.
From AI-powered tools for social care workers to digital support for independent shops, these projects aim to drive inclusive, region-wide growth.
What is the ‘everyday economy’?
Also known as the “foundational economy,” the everyday economy comprises the essential services and businesses people rely on daily. This includes:
- Health and social care
- Early years education
- Local high street retail and hospitality
As the UK’s fastest-growing economy, Greater Manchester aims to deliver a decade of “good growth” where all residents feel the financial benefits. The fund was established following recommendations from the Greater Manchester Independent Prosperity Review, which highlighted the need to boost productivity and wages in these high-employment but traditionally low-wage sectors.
Scaling up innovation: Round two funding
Launched in 2023, the Innovation Fund initially provided £10,000 grants to 25 organisations, to trial new concepts over nine months. Now, 21 of those projects are moving forward with further investment to scale up their work, supported by tailored advice through the Business Growth Hub.
Now in its second phase, the fund is providing successful organisations with up to £60,000 each, alongside a tailored support package to scale their impact.
Key investment themes and featured projects
The 21 funded projects focus on four core themes reflecting the diversity of Greater Manchester’s foundational economy:
Health and social care innovation
Organisations are utilising technology to ease the burden on care workers. Wisterias Care Software and Thriving AI are developing digital tools designed to support carers in their day-to-day operations.
Children’s emotional wellbeing
Mental health and educational support remain a top priority. Empower Coaching and Performance is leading the development of a digital tool to help parents and schools support children experiencing anxiety-related school absences.
Access to culture and creative opportunities
Expanding local heritage and educational resources into the digital space. The Bury Fusiliers Museum is creating a digital museum for online exhibitions and interactive learning resources for schools.
Inclusive high street initiatives
Revitalising local high streets by generating employment for marginalised groups. Businesses like SofraMCR and Hey Little Cupcake are actively providing skills training and job opportunities to diverse local communities.
Cllr Bev Craig, Leader of Manchester City Council and Greater Manchester Deputy Mayor for Economy, Business and Inclusive Growth, said: “This is a groundbreaking investment fund that will see £1million go into local SMEs and CICs that make services better for local people.
“Too often the local small businesses and organisations at the heart of everyday life in Greater Manchester, which power our economy and create jobs and opportunities, don’t get the credit they deserve. That is not the case in Greater Manchester. They’re the building blocks of our high streets, provide essential services like childcare and social care, and shape the places we live.
“They are full of creative, entrepreneurial people whose ideas are already creating new business models, preserving and improving our high streets and making our city region an even better place to live.
“The Foundational Economy Innovation Fund will champion innovation across these sectors that matter most to people’s daily lives and make services better- from digital access to help for carers, our residents will feel the difference. It builds on our growing Live Well approach and helps to drive good growth across Greater Manchester where no one and no place is left behind.”
