Steve Rigby helps launch West Midlands plan to unlock business growth finance

A major new initiative aimed at helping West Midlands businesses secure the funding they need to grow has been launched by Mayor Richard Parker, with Rigby Group CEO Steve Rigby playing a leading role in shaping the strategy.

The West Midlands Access to Finance Action Plan, unveiled at the Business Growth Service Roadshow in Birmingham, is designed to tackle one of the biggest barriers facing ambitious businesses: access to investment.

The plan seeks to make it easier for start-ups and established small and medium-sized enterprises (SMEs) to understand funding options, become investment-ready and connect with the right investors to support expansion.

Steve Rigby chaired the task group responsible for developing the action plan as part of the Mayor's Growth Taskforce.

Speaking at the launch, Steve said: "The goal is to ensure our region offers the best support for home-grown companies to achieve their aspirations. Access to finance facilitates expansion, growth and acquisition. Working alongside an advisory board, we have created a strategy to expand the availability of all types of equity and finance."

The initiative comes in response to concerns that many high-potential businesses across the region are missing out on private investment because the funding landscape can be complex and difficult to navigate.

Among the first major commitments under the strategy is a £2 million investment from the West Midlands Combined Authority into Midlands Mindforge, an investment company focused on supporting university spinouts and science and technology businesses across the Midlands.

Rigby Group is among the founding supporters of Midlands Mindforge, alongside the East Midlands Combined County Authority, UK Research and Innovation and the Department for Science, Innovation and Technology.

Mayor Richard Parker described the Access to Finance Action Plan as a key part of his wider growth agenda for the region.

"We need to make the most of the opportunities on offer so we can take our innovators, entrepreneurs and hardworking business owners to the next level," he said. "If we get it right, we'll unlock the new investment needed to drive growth, bringing tens of thousands of new jobs, higher wages and a better quality of life for everyone."

The launch marks an important step in strengthening the region's business support ecosystem and ensuring more West Midlands companies can access the capital needed to scale, innovate and compete.

Find out more here.