Pictured: Jerry Blackett, chief executive of BCCG
West Midland business leaders have welcomed the Prime Minister's
announcement of a ground-breaking deal which will release £95
million as part of the Regional Growth Fund.
And Birmingham Chamber of Commerce Group (BCCG) praised the
major part that two of the business organisation's patrons will
play. RBS/Nat West will facilitate £70 million and HSBC will
facilitate £25 million. The banks will not profit financially
from the administration of these schemes.
Small businesses which are unable to secure commercial funding
for their project have the potential to benefit from government
support through the banks' regional networks.
Jerry Blackett, chief executive of BCCG said: "Through the banks
and Chamber networks, Birmingham, Burton, Chase, Lichfield,
Tamworth and Solihull businesses will have the opportunity to
invest in new capital assets, such as plant and machinery which in
turn will create much needed new jobs.
"SMEs are the lifeblood of our economy and account for the vast
majority of Chamber membership. We need to support them and help
them expand and with this new initiative, backed by our patrons,
businesses will be better able to grow their way out of these
current economic difficulties."