Mayor’s funding helping thousands of businesses to create jobs and boost the economy

Richard Parker, Mayor of the West Midlands, has today announced a new multi-million-pound support package to help businesses expand and take on more staff.

The package, part of his plan to fire up the region’s economy, will include up to £15m 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).

Since being elected last year, the Mayor has already backed thousands of small and medium-sized businesses (SMEs) with £10m of growth funding.

The money has helped various sectors, including manufacturing, technology and high street businesses, expand their premises, increase their workforce, and buy new hi-tech equipment.

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.

The Mayor 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.”

Richard Parker, Mayor of the West Midlands.

One of the businesses that has had funding and growth support is A&M EDM Ltd, an engineering solutions company based in Smethwick. The company had a growth grant of £62,000 to buy new machinery needed 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.”

BGWM, working on behalf of the Mayor and West Midlands Combined Authority (WMCA), provides the region’s businesses with tailored packages that help them grow, adopt digital technologies, transition to new supply chains, and access funding opportunities.

Find out more about the business support and funding opportunities available to all SMEs across the region on the Business Growth West Midlands website.