IfM ECS launches Manufacturing Growth Series for SMEs and mid-sized firms
Dr Karen Smith hosted the dinner at Christ’s College on 14 January and the topic was Finance for Growth. The speaker was Ian McKernan, Group CEO of the Molecular Product Group Ltd.
Dr Smith, Head, Sector Development and SME Support Business Unit, said: “Each SME and mid-sized firm can face a unique set of barriers to growth depending on location, industry and business structure. Financing growth is certainly a common issue.
“The SME Support Business Unit at IfM ECS is keen to make businesses more aware of the resources and help available to them – and events such as the Manufacturing Growth Series do just that. I am delighted that this joint initiative between IfM ECS and the Business Growth Fund (BGF) has got off to a flying start.”
Professor Sir Mike Gregory, Head of the IfM, attended the dinner and said: “Our collaboration with the BGF promises to make their ‘patient’ capital approach more widely known and accessible to manufacturing businesses.”
The series is sponsored by BGF, which was set up to help firms with a typical turnover of between £5m and £100m. BGF invests between £2m and £10m per business in return for a minority equity stake. In the last three years, it has invested in 23 manufacturing companies and it has up to £2.5bn for long-term equity investments in growing companies.
Mark Bryant, Head of Manufacturing at BGF, said: “BGF shares with the IfM the goal of supporting sustainable growth in British manufacturing, and helping build the bigger businesses of tomorrow.
“The great news is that small and mid-sized manufacturing companies across the country are growing in confidence, refining their growth plans and are considering their funding options. We are delighted to have been part of the inaugural Manufacturing Growth Dinner, and look forward to meeting more entrepreneurs and owner-managers through our work with IfM ECS.”
IfM ECS, the IfM's dissemination arm, helps SMEs and mid-size firms to grow through engagements that:
- improve business strategy
- change product/service offering for the better
- increase competitiveness and market share
- increase manufacturing efficiency
- increase turnover, financial savings and profitability.
For more information on the Manufacturing Growth Series, contact us E: email@example.com