My colleagues at the National B2B Centre have told me about this £3.5m support package for automotive suppliers in the West Midlands struggling during the economic downturn. Automotives Initiatives was launched by West Midlands Taskforce Chair and Regional Minister, Ian Austin.
The funding, which will come from Advantage West Midlands, will help struggling component manufacturers with up to £50,000 of specialist strategic consultancy to help with business consolidation, refinancing , new product introduction and restructuring.
The Automotive Response Programme will be delivered by the Manufacturing Advisory Service in partnership with Accelerate and will look to assist more than 120 companies, ranging from SMEs to tier 1s and even local car producers. It is anticipated that this dedicated support will safeguard up to 1000 jobs in the supply chain.
Sc: www.mgba.co.uk www.ukba.co.uk
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