Automotive suppliers in the West Midlands have indicated that access to finance and missing out on tax incentives are one of the biggest barriers to their growth, according to industry specialist Rachel Eade - speaking ahead of the Business Growth Service’s first Automotive Finance Expert event in the region.
Taking place at MG Motors’ Longbridge site on Thursday March 19, the national automotive lead for the Manufacturing Advisory Service (MAS) believes the exclusive seminar can help introduce new routes to finance, highlight R&D Tax Credit opportunities, and unravel the different funding options available to growing manufacturers.
Automotive Financial Expert is open to owners or directors of supply chain firms in the West Midlands.
To book your place, please contact 0300 303 0034 or click here.
Delegates attending the free event will also hear from Professor David Bailey on the impact of the Budget and Jaguar Land Rover’s Mike Mychajluk on the risk analysis car markers use when assessing suppliers.
Eade explained: “Automotive Financial Expert is a direct response to what our supply chain was telling us they needed…additional insight in preparing for and securing the finance they need to grow.
“We’ve taken a hugely successful format and tailored it specifically for the sector, including speakers from JLR, the Chartered Institute of Purchase and Supply, and Finance Birmingham, who will be talking in detail about the range of tools and funds available.”
She continued: “Other sessions will cover Export Finance Guarantees, getting the most out of Capital Allowances and then a panel discussion to tackle any other issues.
“Automotive Finance Expert is designed to be as interactive as possible and there are a limited number of one-to-appointments available with the experts presenting.”
Eade’s role as automotive supply chain specialist sees her work closely with all tiers of the automotive supply chain, with more than seventy companies assisted in the past two years alone.
This has been through strategic coaching, mentoring and signposting to other Business Growth Services and partners, including GrowthAccelerator, the Intellectual Property Office and UKTI.
She has also played a fundamental role in helping companies access more than £25m of funding to assist with their growth plans and in bringing innovative funds to reality for the West Midlands.
The latter includes The National Tooling Fund and Black Country LEP’s Regional Growth Growing Priority Sectors bid.