Small to medium-sized manufacturers in Warwickshire are being urged to take advantage of a dedicated £500,000 business support initiative that will help them boost sales, create jobs and improve productivity.
The Warwickshire Manufacturing Growth Programme, which is delivered by experts Oxford Innovation Advice, has already supported over 80 local companies to unlock barriers to growth through one-on-one coaching, consultancy, free workshops and signposting to other schemes.
Backed by funding from the UK Shared Prosperity Fund (UKSPF), the specialist support is available until March 2025 and, encouragingly, there is still scope to assist more manufacturing firms across North Warwickshire, Nuneaton & Bedworth, Rugby, Stratford-upon-Avon and Warwick.
“The way the funding landscape has changed means this is the only dedicated manufacturing programme in Warwickshire,” explained Michelle Connor, one of the Manufacturing Growth Managers leading the project.
“Industry requires a tailored approach to business support, and this is exactly what we are delivering, with manufacturing experts helping management teams develop action plans that overcome barriers to growth and access grants for specialist coaching.”
She went on to add: “20 projects have already been completed that have resulted in increased productivity and new innovations being brought to market – helping to create and safeguard over 20 jobs. With funding still in place, now is the time for more companies to come forward before the March deadline.”
The Warwickshire Manufacturing Growth Programme is open to SMEs in the area with fewer than 250 employees and a turnover less or equal to €50m euros.
Eligible companies start the journey with a Manufacturing Growth Manager meeting, they will discuss growth ambitions and challenges, before engaging them on GROWTHmapper, an industry-leading suite of diagnostic tools that identify opportunities for expansion.
If required, a £500 grant is available towards supporting specialist coaching and consultancy, whilst every participant can access free workshops on Digital Awareness, Lean Manufacturing and Supply Chain Resilience and Optimisation.
Southam-based Trident Hydraulics is one of the first companies to benefit, accessing strategic advice to execute a growth plan that will help it move from £1.1m to £1.6m over the course of the next twelve months.
Specialising in sophisticated hydraulic systems for clients in waste management and oil and gas, the firm is going to use the support to explore ways in which it can release capacity and optimise space at its current facility, whilst also developing energy-efficient hydraulic power packs that align with its goals to reduce its carbon footprint and achieve Net Zero targets.
Michael Owen, Director of Trident Hydraulics, added his support: “I would advise other businesses to reach out for this type of specialist support. We have had help accessing grants and advice that we would not have known about and connections to other likeminded companies has developed a new revenue stream for us.”
Oxford Innovation Advice’s Michelle Connor concluded: “This is a perfect example of the difference the Warwickshire Manufacturing Growth Programme can make to a SME.
“The Digital GROWTHmapper supported how Trident Hydraulics needed to focus on the digitalisation of its business, and this has already led to new commercial opportunities and potentially new products.”
The Warwickshire Manufacturing Growth Programme is delivered on behalf of Warwickshire County Council, North Warwickshire Borough Council, Nuneaton and Bedworth Borough Council, Rugby Borough Council, Stratford-on-Avon District Council and Warwick District Council.
For further information, please visit www.warwickshire-mgp.co.uk
