West Midlands businesses win millions in new investment with help of pilot programme
A programme aimed at supporting small West Midlands businesses has helped dozens of firms win millions in new investment in its first year.
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The first year of the pilot High Growth Accelerator Programme, a partnership between economic development consultancy Gateley Global and West Midlands Combined Authority, has ended and been hailed a success.
A cohort of 50 businesses took part in the first year and have attracted £4 million in new investment with bosses saying they are on track to add a further £15 million to their turnover.
The programme, which is designed to support small to medium enterprises overcome barriers to achieve growth, entered its second year on April 1.
During the first year, the 50 companies had access to services including intellectual property valuation, leadership development, digital marketing and public procurement.
Rebecca Bekkenutte, managing director of Gateley Global, said: “The programme has been a vital resource for participating businesses, providing the tools and support needed to help them grow and succeed.
“Its alignment with the region’s focus on SME development has been a key factor in its success.
“We’ve seen results for all businesses around productivity, job creation, revenue growth and expansion through investment and trade, and we’re thrilled to begin the second year of the programme.
Richard Parker, Mayor of the West Midlands, said: “When businesses succeed, we bring in opportunities that mean everyone can succeed.
“And that’s why I pledged to break the cycle of sluggish growth and back them all the way to lead our great region into a new era of prosperity.
“We’re already getting results. The High Growth Programme has turbocharged 50 ambitious local businesses, helping them to overcome barriers and seize new opportunities.
“They’ve already won £4 million in new investment and together, they’re on track to add another £15 million to their turnover.
“That’s good for business and transformative for local people. We’re creating career opportunities and giving them the skills they need to grab them. That’s how we’re going to deliver real change and better futures for everyone.”
