Yorkshire SMEs to get access to a £12m business fund

The Manufacturing Growth Programme, which is funded by ERDF and delivered by Economic Growth Solutions (part of Oxford Innovation), has been extended until September 2021 and will help a further 2,400 companies to tackle barriers to growth, with the potential of creating 2,500 new jobs.

The funding aims to provide valuable assistance from a local manufacturing growth manager which has years of industry experience.

An in-depth business diagnostic and comprehensive action plan will be provided as part of the new programme, alongside improvement grants starting from £1,000.

In response to company feedback, a series of manufacturing themed workshops will also be added and will be available from the summer to help bridge current skills needs in manufacturing businesses and support future skills requirements

Support can be used for a range of improvement projects, such as change, environmental and sustainability, leadership and management, marketing, people and skills, productivity and capacity, quality and strategy.

Martin Coats, operations director at Oxford Innovation, said: “In October 2016, we were given the task of setting up a programme capable of delivering over £10.3m of dedicated business support to SME manufacturers. I’m delighted to say that, thanks to the hard work of the staff and the Manufacturing Growth Managers on the ground, we have achieved that.”

He said that more than 2,000 SMEs have been helped over the last two and a half years, which has added millions of pounds to the local economy and created over 3,000 jobs, safeguarding thousands more in the process.

“Supporting Yorkshire manufacturers is not easy and you need a tailored approach, delivered by experts who understand what it is like working in industry,” said Mr Coats.

“The Local Enterprise Partnerships (LEPs) and local growth hubs have seen first-hand the value we add to firms in their respective areas and this has resulted in their commitment to support us for another two and a half years.

“To make the most of this, we have joined forces with Oxford Innovation to deliver the extension of the programme and this will make us the country’s largest business support organisation, primarily focusing on manufacturing.”

The Manufacturing Growth Programme is available to small and medium-sized manufacturers which want to grow, increase competitiveness and improve productivity while increasing turnover, creating new jobs and introducing new products/services and processes.

It is available to businesses in the West Midlands, Yorkshire and Humber, parts of the East Midlands, the South East and now within the Solent and Enterprise M3 regions.

Dean Barnes, regional director of the Manufacturing Growth Programme added: “The £11.8m extension will provide enhanced support to more SME manufacturing businesses in Yorkshire, as well as having the opportunity to add further value to those companies we have already supported.

“Our Manufacturing Growth Managers are trusted experts that understand the language MDs are talking and, through a new manufacturing diagnostic tool, can guide them on making the right decisions, before bringing in specialists on specific issues they are facing or opportunities they’re looking to explore.”

He concluded: “Accessing MGP has never been easier. The process is slick, the scope of support is tailored to each company’s needs, the diagnostic provides an in-depth look into their business and the results are making a real difference in terms of increased turnover, jobs and new products/processes.”

For further information, visit www.manufacturinggrowthprogramme.co.uk or follow @mfggrowthp on twitter.