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£2.2 million available to assist Midland companies to unlock their potential
MANUFACTURERS are to receive a major boost with news that they can tap into £2.2 million of additional support to help them expand and create jobs.
The Manufacturing Advis-ory Service (MAS) has sec-ured the funding from the West Midlands European Regional Development Fund Programme and will be using the additional money to as-sist a further 390 firms across the West Midlands.
For the first time, MAS will be able to provide ‘transformational’ support worth up to £10,000 to help companies looking to significantly grow by entering new markets, de-veloping products or implementing strategic change projects.
Lorraine Holmes, area director for MAS, said: “This funding is excellent news and reinforces our ability to give specialist advice and guidance that unlocks the potential of manufacturers in the region.
“We are increasingly seeing new opportunities coming online through reshoring and major inward in-vestment into the UK and we need to ensure our SMEs are in a position to take advantage of them.
“This is where MAS comes into the equation and the fact we can offer even bigger ‘transformational’ support will allow us to make even more of a difference to SMEs in the supply chain.”
The MAS is delivered in the region by the West Midlands Manufacturing Consortium and funded by the Department for Business, Innovation and Skills.
Under the additional ERDF funding, Worcestershire ma-nufacturers will receive an in-depth business review from a specialist manufacturing advisor, who will help them develop an action plan that can be used to determine the level of financial support they are eligible for.
The emphasis will be on major strategic change projects that will result in significant process improvement, supply chain development, diversification and, ultimately, result in job creation.
For more information about MAS grants, go to mymas.org.
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