Funding package to boost businesses

Millions of pounds will be made available for small to medium businesses to help them grow

Gurdip Thandi - Local Democracy Reporter | Thursday 8th May 2025 11:06am

A multi-million pound package to help West Midlands businesses grow and employ more people has been unveiled.

Mayor Richard Parker announced a package of support aimed at boosting the economy which includes up to £15 million of direct grants to support growth.

Also on offer will be thousands of hours of free advise delivered through the Business Growth West Midlands (BGWM).

Mr Parker said he has backed small and medium sized businesses to the tune of £10 million of growth funding since he was elected a year ago.

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.

The Mayor 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 £15 million 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.”

One of the businesses that has had funding and growth support is A&M EDM Ltd, an engineering solutions company based in Smethwick.

A £62,000 growth grant helped to buy new machinery needed to enhance its operations.

Managing director Mark Wingfield said: “We received a grant from BGWM in 2024 towards the purchase of a CNC machining centre.

“The support enabled us to accelerate this investment and increase our capacity to meet aerospace customer demand for precision machined components.

“The funding application was a straightforward process and has really helped our ambition to grow.”

People can learn more about the business support and funding opportunities  at www.businessgrowthwestmidlands.org.uk.

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