GMCA awards £7.5 million to support businesses across the city-region

Greater Manchester Combined Authority (GMCA) has announced it has awarded £7.5 million from the UK Shared Prosperity Fund to deliver business support across the city-region.

GM Business Growth Hub will use the funding to offer tailored support to businesses of all sizes in Greater Manchester to help them grow, innovate and move into new markets over the next two years. GM Business Growth Hub, part of The Growth Company, will also offer practical and specialised business support in areas such as accessing finance, innovation, leadership and skills development and decarbonisation. A dedicated contact centre will also provide instant advice around day-to-day queries such as registering for VAT and skills development.

Stockport, along with the nine other local authority areas within Greater Manchester, will also be allocated a dedicated team of advisors to work with the council to ensure support matches with local provision.

Cllr Bev Craig, Leader of Manchester City Council and Greater Manchester’s lead for Economy, Business and Inclusive Growth said:

“This investment and new programme of work signals a great step forward in our ambitions to accelerate business growth, good jobs and a more productive economy by supporting the city-region’s diverse business base.

“Designing the service in this way and working directly with local authorities will ensure delivery is integrated and tailored to the needs of the business community in each area and that businesses that would really benefit from this support, including start-ups and businesses that want to grow, innovate or move into new markets don’t miss out.”

Janine Smith, Director, GM Business Growth Hub, said:

“GM Business Growth Hub has a long history of delivering meaningful business support to SMEs across Greater Manchester. Over the last 10 years we’ve been embedded in the Greater Manchester business support landscape working closely with businesses, partners and stakeholders to ensure that the support we provide supports Greater Manchester’s ambitions and those of the businesses based here. 

“Greater Manchester is one of the most exciting places to be in the UK right now and we couldn’t be prouder to be part of that future. From helping businesses innovate, to developing their green potential and closing skills gaps, we look forward to continuing this important work with GMCA and the 10 local authorities.”

The UK Shared Prosperity Fund is a fund designed by government to replace the former EU structural funds, with GMCA named as the lead authority for administering the fund in the city-region.