A new initiative to help manufacturing directors manage expansion and retain their best staff is coming to North Staffordshire later this month.
Financial Expert, which is being delivered by the Manufacturing Advisory Service (MAS), will be hosting its first dedicated workshop in the region on July 16 at the Best Western Moathouse Hotel in Stoke-on-Trent.
Working with independent advisory specialists Grant Thornton, the interactive event will help companies understand the best options for accessing finance, tapping into alternative funding streams and unraveling the tax implications of innovation and expansion.
There will also be a session on green energy, looking at the Government’s Renewable Heat Incentive (RHI) and the cost savings businesses can enjoy from moving to Biomass or LED lighting.
“In recent research by the MAS Barometer, 30% of firms cited access to finance as a major barrier to growing their business,” explained Lorraine Holmes, MAS area director for North and West.
“And it’s not simply securing the money they need to fund growth that is causing the managerial headaches. When questioned, directors are pointing to missing out on tax incentives they never knew were there and how to be creative in incentivising their key staff to perform and, increasingly, stay with them.
“Financial Expert is a direct response to these concerns and will give North Staffordshire manufacturers previously unavailable access to industry-leading advice and guidance on overcoming these barriers.”
She continued: “The session will be carried out in small groups, with the chance to share experiences and learn from like-minded directors. Afterwards, there will be the chance for further one-on-one support to focus on the initial issues identified in a confidential environment.”
The free workshop is restricted to 25 companies and places are available on a first come, first served basis.