The socially-trading sector in the Liverpool City Region is the silent engine of our local economy.

Employing 50,000 people and generating almost £3bn every year, it ensures that our region's economy embodies our sense of fairness and social justice. As mayor, I have set to work, helping it grow and thrive even further.

In 2019 we launched Kindred, a radical new venture to make that happen in the city region.

Kindred is a unique investment and development vehicle, owned and run by the sector, that provides funding and support to community organisations to nurture, grow and scale-up their businesses.

Established with £5.5m from the Liverpool City Region Combined Authority and £1m from Power to Change, Kindred builds on the best of our region's collaborative spirit to help expand our thriving social ecosystem.

So far, they have allocated their first £1m of support to 22 beneficiaries, including organisations tackling social inequalities in mobility, who help older people strengthen their independence at home, following a hospital stay or illness, and championing opportunities in live music.

The fund has also assisted Wirral-based ‘Hype Merseyside' to help young people – who have borne the brunt of the pandemic more harshly than most – achieve the skills they need to enter the world of work. Their values chime perfectly with my manifesto commitment to ensure that any young person who is out of work for six months, will be guaranteed a job, training opportunity or apprenticeship – the second-chance in life that we all need, but all too often don't get.

In North Liverpool, a social enterprise is working with new parents to support them through the difficult early days of looking after a baby.

Beautiful New Beginnings is an early years organisation that has grown hugely during the pandemic, supporting thousands of parents to become the primary educators in their child's life from birth.

As face-to-face support for both ante-natal and post-natal services disappeared, Beautiful New Beginnings moved its business online, and has now pioneered a blended model, supporting nearly 20,000 families across the globe – a far cry from its 60 local customers at the start of the pandemic.

Both of these organisations were among the first to be supported by Kindred and demonstrate the agility and ability to innovate that can make the social economy a key sector to our recovery.

Contrary to common perception, these organisations are not charities. They are groups organised in the collective interest, delivering real social benefits to their communities, and helping to build a cyclical economy by reinvesting their profits into doing even more good.

The pandemic has had a bruising impact on economies around the world, and it is organisations like these that might ordinarily be the first to go to the wall. Thankfully, Kindred has been there to offer support and guidance to help steer more than 200 of them through some of the worst of it. Coupled with almost £3m, which we were able to offer through LCR Cares, my community support fund, they are now able to look to the future – and towards recovery.

Looking ahead, I know that our socially-trading sector will have a big role to play, as one of the pillars that our £8.8bn recovery plan is built on.

Kindred and the social economy it supports have never been more needed. Once again, where the Liverpool City Region leads, I am certain others will follow.

Steve Rotheram is metro mayor of Liverpool City Region

@LpoolCityRegion