Small to Medium-sized (SME) manufacturers across Sheffield can now take advantage of a £6.5m national 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 for the first time will be delivering grants to companies in the Sheffield City Region LEP area to tackle immediate business issues and support improvement plans.
This additional backing will safeguard/create thousands of jobs across England and takes the total package of support the initiative is able to deliver to £18.3m across 17 regions.
Sheffield firms will be given access to two dedicated local Manufacturing Growth Managers, 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.
“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,” explained Richard Halstead, Manufacturing Growth Manager for Sheffield.
“Our track record in delivering on-the-ground expert support was pivotal in securing an additional £6.5m of funding that is ring-fenced so SME manufacturers can overcome barriers to growth and return to doing what they do best…making things.”
He continued: “We are delighted that for the first time we can assist firms in the Sheffield City Region after the LEP asked us to deliver in this area. Local companies can now benefit from a tailored programme of assistance that has already benefitted 1500 businesses in Yorkshire and Humber, helping them create over 1000 jobs and to boost sales significantly.”
The Manufacturing Growth Programme is the only dedicated business support programme for SME manufacturers in England, working with more than 3000 companies since its launch in October 2016.
It has assisted firms from more than 15 different manufacturing sectors to increase productivity and competitiveness and this has added tens of millions of pounds to the English economy and created in excess of 4100 jobs, safeguarding thousands more in the process.
A recent survey delivered by MGP, in partnership with South West Manufacturing Advisory Service, revealed an urgent need for greater and faster financial support from the Government as they confront plummeting sales, production volumes and the prospect of job cuts amid the ongoing Covid-19 pandemic.
“It is no great surprise to see that every indicator for confidence among firms appears to have worsened over the last six months. That said, it is heartening to see that some companies are adapting to the situation by diversifying their processes and product ranges in all manner of innovative ways,” commented Marcus Pearson, Manufacturing Growth Manager for Sheffield.
“While the number of projects we have supported has been maintained since the start of the Covid-19 crisis, demand has shifted from the larger SMEs towards micro businesses.
“This has also led to a change in the type of assistance required. There is more demand for shorter-term marketing and product development projects and less for productivity and capacity building projects.
“As the economy recovers, it will be important to shift this pattern back, ensuring that support reaches larger SME manufacturers as well and delivers projects that rebuild capacity. MGP is more important than ever in achieving this.”
David Grimes, Head of the Sheffield City Region Growth Hub, concluded: “The manufacturing sector plays a significant role in the Sheffield region and, while we host many large world-leading manufacturing and engineering companies, SMEs are equally important.
“It is great that we now have a dedicated business support programme available to small to medium-sized manufacturers so they can benefit from an experienced team, manufacturing understanding and grant funding opportunities to enhance their growth potential.”
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.
