Liverpool Pride organisers have said they will begin fundraising efforts for next summer’s event in December of this year to ensure the day remains free.

This is the earliest the event organisers have had to begin collecting money in the city’s history.

Liverpool City Council has said financial constraints may mean it is forced to cut funding to festivals in the city, though organisers say they will continue to work with the authority.

Over 40,000 people attended the event this year, double the 2010 figure of 20,000.

A study completed by Liverpool Pride showed that 2011’s festival generated a total spend of over £2.6 million for the local economy.

Organisers are now asking local individuals and businesses to help ensure the event continues to be free in 2012.

James Davies, one of the trustees of Liverpool Pride said: “We’re delighted to be able to announce Liverpool Pride 2012 and can’t wait to start on the road to creating something that is truly special once more.

Although we face some funding cuts due to wider cuts in public spending, we’re determined to make Liverpool Pride 2012 even bigger and better than ever before and can only do that with the help of Liverpool, as a council, as a community and as a business collective.

“We’re grateful to the City Council and to the likes of the European Regional Development Fund as well as our sponsors for all of their support thus far and hope that, despite budget cuts, we can continue to work with them in the coming years.

“We made the festival into a massive success in 2011 even though we faced a 60% cut in our funding from the City Council and we’re determined to do it again even if further cuts should occur.”

Fundraising events begin in December with the Camp as Christmas evening at The Dome on Renshaw Street.

The event features erstwhile X Factor contenders Diva Fever, who had to pull out of this year’s Pride event after triple-booking themselves.

Earlier this month, Liverpool unveiled the UK’s first gay street signs.

Liverpool Pride is asking local businesses and individuals to run fundraising events including bring and buy sales, cake bake offs and sponsored drag days.