ISLE OF WIGHT MANUFACTURERS URGED TO APPLY FOR SHARE OF £6.5MILLION BOOST

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Small to Medium-sized (SME) manufacturers on the Isle of Wight are being urged to take their share of a £6.5million funding boost to help them recover from the COVID-19 pandemic and address key barriers to growth.

The Manufacturing Growth Programme, which is funded by ERDF and delivered by Oxford Innovation Services, has been extended until December 2022 and will give a further 2,800 companies access to industry experts and grants to tackle immediate business issues and support improvement plans.

This additional backing will safeguard/create 3,500 new jobs and takes the total package of support the initiative is able to deliver to £18.3million across 17 regions.

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Firms are given access to a dedicated local Manufacturing Growth Manager, who will use GROWTHmapper – an in-depth business diagnostic tool – to develop an individual action plan and support business projects, ranging from environmental improvements, leadership and management and marketing to people and skills, quality and supply chain development.

Martin Coats, Managing Director of the Manufacturing Growth Programme, explains:

“All the media attention is on the headline manufacturers and how they are coping in the wake of Covid-19…it’s our job to look at how the smaller manufacturers supporting these big businesses are performing and what we can do to help them

“Our track record in delivering on-the-ground expert support was pivotal in us securing an additional £6.5m of funding that is ring-fenced for ensuring SME manufacturers can overcome barriers to growth and return to doing what they do best…making things.

“Helping manufacturers is not easy and you need a tailored approach, delivered by experts who know what it is like working in industry. The Local Enterprise Partnerships (LEPs), their local Growth Hubs and the Ministry of Housing Communities and Local Government have seen first-hand the value we add to firms in their respective areas and this has resulted in further commitment to support us for another two and a half years.”

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The Manufacturing Growth Programme is the only dedicated business support programme for SME manufacturers in England, supporting more than 3000 companies since its launch in October 2016.

Going forward, the Manufacturing Growth Programme will be working closely with the Department for Business, Energy and Industrial Strategy (BEIS) to support the recovery of English manufacturers.

For further information, visit www.manufacturinggrowthprogramme.co.uk.

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