Call for ambitious businesses needing finance

Businesses with growth plans that need finance are being urged to come forward and tap into support on offer through the Greater Birmingham & Solihull Local Enterprise Partnership (GBSLEP). The organisation covers Birmingham, Solihull, Wyre Forest, Tamworth, Lichfield, Cannock Chase, East Staffordshire, Redditch and Bromsgrove.  There are a number of funds and schemes now online and companies in the LEP area which have expansion plans needing finance are invited to attend an event to find out about financial support.  The event is being held at the Birmingham office of the Department for Business, Innovation & Skills on 6 February. Schemes available include the Regional Growth Fund, which was recently extended to a fourth round worth £350 million. With a minimum allocation of £1 million and the requirement to at least match the Government contribution, this is targeted at larger companies.  However, the GBSLEP and its partners can combine bids for smaller and medium sized companies in the region.  A range of other schemes – including the Growing Places fund for development projects, the Advanced Manufacturing Supply Chain Initiative and Birmingham City Council Loan Fund, are also available, in addition to the Business Development Programme which offers grants of between £10,000 and £15,000 to growing businesses in the LEP.  Paul Heaven, GBSLEP board director with responsibility for access to finance, said: “The LEP has been successful in securing funding from Government for a number of specific schemes which are now live.   There are a number of loans, grants and even equity finance available for businesses that have specific growth plans that create jobs. Even if you are not able to make it on that day, it’s important that companies get in touch so that we can find ways to make finance available.” To find out more about the event, or to discuss funding options email Debbie Harris at debbieharris@cannockchasedc.gov.uk.