More than 600 small and medium-sized enterprises (SMEs) in the West Midlands have secured £2.5m in investment through a regional initiative designed to boost business growth. A further £24m in potential funding is anticipated, according to organisers of the West Midlands Business Funding Summit, scheduled to take place in Birmingham on November 20.
The summit, the largest of its kind in the region, aims to connect investors, financial institutions, and business advisors with entrepreneurs and SMEs to simplify access to finance. It is part of the Business Growth West Midlands Investment Readiness programme, managed by Oxford Innovation Advice. The programme has helped 650 businesses enhance their financial strategies in the past year alone.
Jane Galsworthy, Managing Director of Oxford Innovation Advice, highlighted the challenges SMEs face in navigating the financial landscape:
“Securing funding can be complex, with a multitude of options available. This summit is not just about identifying suitable sources of finance but also about equipping businesses with the knowledge, networks, and support needed to grow.”
She added:
“For companies in Birmingham, Solihull, and the Black Country, this is an invaluable opportunity to learn, connect, and leverage the funding ecosystem. By addressing these challenges, businesses can unlock significant growth potential.”
The event will feature keynote speeches from businesses that have successfully secured investment, as well as panel discussions providing practical tips on preparing for external finance. One recent success story highlighted by Galsworthy was Booghe Toys, a West Midlands-based toy retailer that secured £1.2m to expand its operations.
The summit will be held at Birmingham’s STEAMhouse venue and will include exhibitors from key financial organisations such as Barclays Business Bank, ART Business Loans, and Mercia Ventures. These exhibitors, alongside professional advisors, will provide attendees with valuable insights and guidance on funding and wider business support opportunities.
Organisers have specifically encouraged participation from SMEs in manufacturing, creative industries, technology, and food and drink sectors, though all industries are welcome.
The summit comes at a critical time for businesses, with many awaiting clarity following the Autumn Budget. Galsworthy noted that despite challenges like increased tax burdens, there are significant growth opportunities for SMEs with the right financial skills and support in place.
Funded by the West Midlands Combined Authority through the UK Shared Prosperity Fund, the event is free to attend.
The programme’s ultimate goal is to assist 2,000 SMEs and entrepreneurs in securing the resources needed to scale their businesses. Places are limited to 175 delegates and are available via Eventbrite.