Manufacturing firms in the Humber could benefit from £11m funding pot
By Hull Daily Mail | Posted: 13 May 2019
Small manufacturing businesses across the region could now benefit from an £11m funding pot to help them grow.
SMEs in the sector can tap into the funding to help take on new staff, introduce new products and tackle skills gaps.
The £11.8m funding scheme, called the Manufacturing Growth Programme, is funded by the European Regional Development Fund.
It is hoped the money will help create 2,500 new jobs, and help thousands of manufacturing companies grow.
Dean Barnes, regional director at the Manufacturing Growth Programme, said: “The £11.8m extension will provide enhanced support to more SME manufacturing businesses across the Humber.
“Accessing MGP has never been easier. The process is slick, the scope of support is tailored to each company’s needs, the diagnostic provides an in-depth look into their business and the results are making a real difference in terms of increased turnover, jobs and new products/processes.”
The funding will help manufacturing businesses across the Humber (PA)
The funding – delivered by an arm of Oxford Innovation - has now been extended until September 2021.
It is available to SME manufacturers which have an intention to grow, increase competitiveness and improve productivity while increasing turnover, creating new jobs and introducing new products and processes.
It is available to businesses across the Humber region, and hopes to address the skills gap in manufacturing.
Martin Coats, operations director at Oxford Innovation, said: “In October 2016, we were given the task of setting up a programme capable of delivering over £10.3m of dedicated business support to SME manufacturers.
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“I’m delighted to say that, thanks to the hard work of the staff and the Manufacturing Growth Managers on the ground, we have achieved that.
“Over the course of the last two-and-a-half years we have helped more than 2,000 SMEs to identify and overcome barriers to their growth and this has added millions of pounds to the local economy and created in excess of 3,000 jobs.”
In response to company feedback, a series of manufacturing-themed workshops have also been added and will be available from summer 2019 to help bridge current skills needs within manufacturing businesses and support future skills requirements in line with Industry 4.0.