Supporting our SMEs to grow will increase employment right across the Midlands and help to diversify our business base. SMEs can be a key source of innovation, and medium sized enterprises are crucial to developing local supply chains that support global brands.
High levels of new company formation and survival are indicative of a strong entrepreneurial culture and ethos within the business and wider community.
We recognise that the range of business types, the sectoral strengths of the region and its economic growth ambitions will call for a broad and sophisticated range of financial support mechanisms. Midlands Engine partners will work together to simplify and streamline the funding landscape and integrate recyclable funds.
Access to appropriate sources of finance is essential for businesses to reach their full growth potential and to facilitate the survival of new business start-ups. The Midlands Engine will address this by offering a single and substantial access-to-finance proposition.