The programme, which is funded by the European Regional Development Fund (ERDF) and delivered by Economic Growth Solutions (EGS), helps small to medium-sized manufacturers grow their businesses, develop new products and improve their processes and quality. Over £1.26m of grants have been distributed so far with £2.5m of funding still to award before March 2019.
As well as the 588 positions already created, another 274 are expected to be filled by the time current projects are completed. Martin Coats, managing director of EGS, believes that SMEs in the West Midlands are leading the current growth across the UK’s manufacturing sector, thanks in part to MGP.
It is the tailored support that the scheme offers that is the key to its success, giving specialist assistance to help manufacturers grow and improve. Firms undergo a strategic review which identifies the particular barriers they are facing, and the support needed to overcome these and help the business reach its full potential. The funding can be used for a wide variety of improvement projects such as leadership and management training, research and development, improving productivity and capacity, enhancing quality systems and supply chain development.
In the West Midlands, the most common areas that MGP has helped with have been around marketing, understanding new market opportunities, boosting quality and ensuring the right strategies are in place to deliver growth. The fund can also support companies to improve their environmental performance.
To apply for funding for your business, contact the Think Sandwell team on 0121 569 2121, who can guide you through the application process.