Birmingham Post

Index

Responding to the Credit Crunch

The speed and the depth of the credit crunch, and the ensuing recession, took most businesses by surprise. In particular the difficulties facing businesses accessing investment and even simple credit have been, and in some cases remain, pernicious. However, while this is a global phenomenon Advantage West Midlands with partners from across the region has developed a co- ordinated West Midlands response to these problems. Working with banks, financiers, Business Link, MAS-WM and other public a...

Solutions to Your Business Demands ; Suitable Solutions for Your Business

STARTING A BUSINESS What's the product? Free access to clear information and advice for anyone thinking about starting a business. What does it aim to achieve? It aims to achieve an increase in enterprise activity leading to a higher rate of business start-up and survival. Who's eligible? Anyone starting a business.

Steel Company Grows with Help of Gbi Grant

Wolverhampton company, Barnshaw Section Benders, has undergone a major expansion thanks to a pounds 230,000 Grant for Business Investment. Barnshaw Section Benders based in Coseley, is creating 11 new jobs and investing over pounds 1m in new machinery to enable the company to bend steel sections, tube and plate for use in large construction projects.

Abrapower - Improved Productivity and Higher Sales

Stafford based Abrapower manufacture a wide range of high quality foam backed abrasives. However due to the current economic climate the company were facing severe financial difficulty. The company had reached its agreed overdraft facility and did not have any cash liquidity within the business.

Nano Firm's Pounds 90k Grant Boost

NanoTherics has benefited from just under pounds 90,000 grant for Research and Devlopment. NanoTherics is a spin out company from the University of Keele and received investment from the Mercia Technology Seed Fund as well as a Grant for Research and Development (GRD), both part of a range of finance initiatives offered by Advantage West Midlands. The company has developed a patented technology which uses nanoparticles and magnetic fields to facilitate the delivery of DNA into living cells.

Robust Response to Support the Region's Businesses ; Norman Price, Chair of the West Midlands Enterprise Board and Regional Finance Forum, Highlights the Successes in Assisting Firms Weather the Recession

F inance has been the theme of this recession and its cause. Money was too cheap and too available, particularly for personal borrowing, property and large corporate sectors, now it's more expensive if available at all. In contrast to the recessions of the 1970s and 1980s this one has permeated all sectors of our economy and created new, unforeseen, problems and as the region most effected by the downturn a strong collective response has been essential to galvanise the public and private sect...

Understanding Finance for Business

Ensuring businesses have access to appropriate finance is key to an enterprising region. Entrepreneurs need fi-nance to start new businesses and existing businesses need it to realise opportunities for growth. This is why Advantage West Midlands has supported the Regional Finance Forum and Access to Finance Framework. The aim is to make sure innovation, entrepreneurship and business growth are not held back because viable businesses are unable able to access appropriate finance.

Small Loans for Businesses - the Prince's Trust

Alongside the traditional High Street banks there are many organisations and companies who are looking to support new business and entrepreneurs. One such example is The Prince's Trust. This youth charity has helped more than 74,000 young people set up in business since 1983. It provides low-interest loans, business training and mentor support for young people who are keen to start their own business. In the past year, The Prince's Trust in the West Midlands has helped more than 4,000 young p...

Community Finance Helping Business Grow

Aspecialist kitchen company, Quality Kitchen Makeovers, has recently been helped by the local community development fi-nance institution (CDFI) to expand and develop new storage space after being turned down by its banks. Black Country Reinvestment Society (BCRS), the Wolverhampton based loans company, has helped business owner Paul Loynes expand Quality Kitchen Makeovers from the landmark Oak Lodge Buildings at the bottom of Furnace Hill in Halesowen.

Enterprise Finance Guarantee Scheme

The Enterprise Finance Guarantee (EFG) Scheme is part of the Solutions for Business suite of products. Nationally it will support up to pounds 1.3bn of new lending by banks to viable SMEs with working capital or investment needs. EFG can be used to support new loans, refinance existing loans or to convert part or all of an existing overdraft into a loan to release capacity to meet working capital needs. Businesses look for loans of pounds 1,000 to pounds 1m, repayable over a period of up to 1...

Investing in the Future

Proof Of Concept An example of the one of the grant funds available to support R&D by West Midlands SMEs is the Advantage Proof Of Concept Fund. This new pounds 5.8 million fund allows Advantage West Midlands to share some of the risks of innovation in SME companies. The Agency knows that by the nature of innovation not all of the companies supported will succeed, but the aim is to make a difference by encouraging commitment to new ideas. This approach will enable work to be done earlier than...

Funding for Business - the Private Sector

Solutions for Business and the many public/ private sector funds are an important part of the finance landscape. They fill the gaps in the traditional commercial banking and High Street banks offer. However, the overwhelming majority of businesses get their funding from the usual private sector sources. A recent example is Warwickshire based GreenMech, which has secured pounds 500,000 from Lloyds TSB Commercial to help boost its exports to Europe and the USA, as part of its plan to double tur...

Monster Machine Boosts Black Country Manufacturing

Business Link West Midlands (BLWM) offers support to the region's businesses to start-up, develop and grow. The organisation works with business start-ups and established companies to deliver measureable impact on their performance and hence help close the pounds 10bn economic output gap between our region and average UK performance. BLWM's expert business advisers work with clients to review critical business processes, skills and leadership and provide access to a sophisticated range of sup...

Preparing and Using a Business Plan

The business plan is probably the most important thing you will ever write for your business. Many businesses only ever write one business plan with the aim of raising finance, but in fact a business plan should be revised each year.

Leading the Way Out of Recession

Amajor conference aimed at helping West Midlands' businesses recover from the recession is taking place at the Botanical Gardens in Birmingham on November 4. Advantage West Midlands has teamed up with the British Business Angels Association, the Institute of Directors and the Institute of Chartered Accountants to help boost the region's economy. The morning session will be aimed at individuals and their advisors who may be considering whether they can be Business Angels.

Access to Credit Is Vital

West Midlands' larger firms are finding it easier to access credit for the first time in 2009 and expect the situation to continue to improve at a similar pace over the next quarter. The CBI's latest Access To Finance Survey shows that nationally nearly 27 per cent of firms have seen credit availability improve, while 10 per cent have seen conditions deteriorate. This gives us a net balance of +18 per cent, and is a marked contrast to the -20 per cent which was reported back in May.But we als...

Facing the Real Challenge

Raising finance is still a challenge for businesses. Larger businesses have been able to access the equity markets via rights issues and issue corporate bonds but small and medium sized businesses have had to rely on the banks for their funding and in most cases the banks have looked to reduce the size of their borrowing facilities and increased the cost of borrowing. More positive signs are, however, starting to appear. Margins on borrowings have stabilised and the level of borrowing the ban...

Cobbetts Moves to Four-Day Week After Slowdown in Business

Staff at city law firm Cobbetts have been put on a four-day working week after the recession hit the corporate and real estate work the firm previously thrived on. The regional company has a significant presence in Birmingham, with an office at Colmore Square and a strong corporate focus with clients including John Lewis and Tyrrells crisps. Most recently, it advised on the sale of wellknow Birmingham childrenswear brand Adams to a Pakistani business conglomerate. Nationally, the firm has a s...

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