£33 million business growth programme launches

Businesses in North Worcestershire are among those set to benefit from a newly launched business growth programme.

The Business Growth Programme (BGP) – managed by Birmingham City Council’s Business Development & Innovation Team and part-funded by the European Regional Development Fund, will offer a comprehensive package of business support to B2B Small to Medium sized Enterprises (SMEs) based in Bromsgrove, Redditch and Wyre Forest, the Greater Birmingham & Solihull, Stoke-on-Trent and Staffordshire, and The Marches LEP areas.

The BGP will create over 1,300 new jobs, increase the competitiveness of almost 600 SMEs and offer grant funding of between £10k – £200k to eligible SMEs who have plans to expand and create jobs. It will consist of the following four key elements –

The HS2 Supply Chain Programme – offering grants of £20k  –  £200k towards projects for supply chain companies which have, or are in the process of securing, or have the ability to secure a contract for HS2.

The Green Bridge Supply Chain Programme – grants of £20k – £150k towards project costs for supply chain companies operating in, or expanding into the green economy.

The Business Innovation Programme – grants of £10k –  £30k towards project costs for SMEs investing in innovative close-to-market processes, products and services.

The Business Development Programme – grants of £10k – £20k towards project costs for businesses looking to expand, relocate and improve access to markets.

Councillor Tracey Onslow, Wyre Forest District Council’s Cabinet Member for Planning and Economic Regeneration said: “This is great news for businesses looking to grow and expand. I urge business owners to look at their business plans and see if any of these programmes support those plans, and if so, take action to find out if they are eligible to get support in this way.”

Bromsgrove District Council’s Leader Geoff Denaro, whose portfolio covers Economic Development said: “Bromsgrove is responsible for the majority of business start-ups outside of the London Boroughs which we are particularly proud of.

“This programme will help them, and other companies to grow and demonstrating once again that Bromsgrove is a great place to do business.”

Redditch Borough Council Leader Bill Hartnett said: “Redditch boasts a range of businesses and we want to keep them here! This is great news for Redditch and this programme will offer them the help and support to expand and I hope that our business community takes advantage of this opportunity.”

Funding is subject to availability and eligibility criteria, details of which can be found by visiting  the NWedR website.  Alternatively visit the Birmingham City Council website.

Applications must be submitted within the Funding Rounds specified on the above web pages.