Ninety businesses were urged to consider exporting and seek advice from the Coventry and Warwickshire Local Enterprise Partnership during an inspirational presentation from a Rugby businessman.
Jim Griffin, managing director of Automotive Insulations in Somers Road, captivated the audience at the Dunchurch Park Hotel and Conference Centre in Rugby Road, Dunchurch, during CWLEP’s second Engage and Inform event.
He spoke about the difficulties of growing the manufacturer of noise insulation components but since January 2012, the company’s turnover has increased from £5 million to £12 million, staff numbers have risen from 40 to 125 and a new company is to be opened in Rugby.
Jim said it was vital businesses sought advice and information from the CWLEP, Coventry and Warwickshire Chamber of Commerce, UKTI, the Manufacturing Advisory Service, PERA and GrowthAcclerator to find out more about the funding opportunities available to put their business plans into action and introduce specialist training for their workforce.
“There is a wealth of information and people with expert knowledge in Coventry and Warwickshire that are here to help businesses grow but sometimes it is about knowing where to go to maximise those opportunities,” he said.
“One of those areas is exporting which can be daunting but it can be fun. We gained confidence as we secured more work and began designing parts.
“My company has received support to train staff, introduce eight niche processes, learn how to set-up two companies abroad and develop new products to lay the foundations for our future success.
“We now have a business plan centred on producing high growth with profit and a senior management team which is being mentored through the GrowthAccelerator programme.
“Access to finance is a hot topic at the moment but our experience is that finance is available if you can produce a sound business plan and demonstrate your ability to achieve it.
“I think it is really important to tap into the knowledge of the business groups we have in Coventry and Warwickshire.
“I believe CWLEP is well on its way to leading the support and lobbying that is needed to keep our region growing.
“I’ve joined its High Value Manufacturing Business Group because of my desire to see support for our region’s companies be sustained but balanced by the needs of SMEs as well as larger companies.”
Rugby Borough Council leader Cllr Craig Humphrey, who is also a board member at CWLEP, said the event had been extremely informative to sign-post the business support available to businesses however large or small.
“These get-togethers across the sub-region are vital to highlight the partnership work the CWLEP is doing on a daily basis to remove barriers to economic growth,” he said.
“The CWLEP is here to ease the bureaucracy which can sometimes be involved by working with local authorities and the private sector as well as identifying opportunities to entice and keep businesses in the sub-region and promoting the support available to meet the needs of companies.”