A MULTI-MILLION pound support package to help businesses expand and take on more staff has been revealed.
West Midlands Mayor, Richard Parker announced the package as part of his plan to fire up the region’s economy.
It will include up to £15million of direct grants to support growth and decarbonisation alongside thousands of hours of free, hands-on expert advice delivered through Business Growth West Midlands (BGWM).
Since being elected last year, the Mayor has backed thousands of small and medium-sized businesses (SMEs) with £10million of growth funding.
The money has helped various sectors, including manufacturing, technology and high street businesses, expand their premises, increase their workforce, and buy new hi-tech equipment.
Expert advice, funded by the Mayor, has also helped businesses to win new contracts, break into lucrative overseas markets, boost turnover, and attract additional investment.
Mr Parker said: “Our region’s economy has stagnated for too many years. When I was elected I said I wouldn’t sit back and let that continue – and I haven’t.
“I’ve backed the innovative and entrepreneurial spirit of thousands of businesses to help them grow, take on more staff, and bring life back to our high streets.
“And this year, we’re going even further – with another £15million of funding and more of the practical support they need to succeed. That means more opportunities for local people to get good jobs and careers that make a difference to their lives.
“Our business community is the lifeblood of our economy. They are key to making the West Midlands a great place to live, work, and do business. That’s why I will keep giving them what they need succeed and help us get back to growth.”
BGWM, working on behalf of the Mayor and West Midlands Combined Authority (WMCA), provides the region’s businesses with tailored packages that help them grow, adopt digital technologies, transition to new supply chains, and access funding opportunities.
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