Thursday, June 18, 2009

News: Rotherham manufacturers urged to make most of business support


A specialist taskforce established by Yorkshire Forward to look at how Yorkshire and Humber's manufacturing industry can be supported through the recession has found that many regional companies are missing out on opportunities for support.

The group is Chaired by Richard Wright, CEO of Rotherham based Intertius Ltd and former President of the Sheffield Chamber of Commerce, and includes representatives from regional companies, Business Link Yorkshire, the Manufacturing Advisory Service and Engineering Employers Federation.

The group has identified that many are missing out on opportunities to access support and are now working to make sure companies understand the best routes to access support and improve their business.

Richard Wright said: "An example would be finance. There are various publicly funded finance schemes available through Business Link Yorkshire but the Banks still remain the major source of short term finance. We know that they are being more challenging to companies who want to borrow; however, one of the many services Yorkshire Forward is funding through Business Link Yorkshire is a free financial health check, which allows a company to look at their financial situation in detail.

"Similarly, there is a huge amount of support available via the Manufacturing Advisory Service around process efficiency and productivity. MAS are also able to provide mentoring support, which can be incredibly helpful for those company leaders for whom this is their first recession."

As well as direct business support, manufacturing companies are also eligible for assistance from Rotherham Council and HMRC via their Business Rates Deferral Scheme, which allows companies to spread payment of their tax or business rates to help alleviate short term cash flow issues.

Yorkshire Forward website
Business Link website


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