The package will include up to £15 million of direct grants to support growth and decarbonisation alongside thousands of hours of free, hands-on expert advice delivered through Business Growth West Midlands (BGWM).
The Mayor, Richard Parker, 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.”
Thousands of small and medium sized manufacturing, technology and high street businesses have already been helped with £10 million of growth funding to expand their premises, increase their workforce and buy new hi-tech equipment since Mr Parker was elected last year.
Expert advice, funded by the Mayor, has also helped businesses to win new contracts, break into lucrative overseas markets, boost turnover and attract additional investment.
Smethwick based engineering solutions company A&M EDM Ltd is among the businesses that have received funding and growth support to date.
The company received a growth grant of £62,000 to buy new machinery 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.”
Business Growth West Midlands, working on behalf of the Mayor and West Midlands Combined Authority, provides the region’s businesses with tailored packages that help them grow, adopt digital technologies, transition to new supply chains, and access funding opportunities.
People can find out more about the business support and funding opportunities available to all SMEs across the region on the BGWM website.
