Business investment project to be launched in Sheffield
A MAJOR business investment project (BIP) will be launched in Sheffield this week.
Recognising that there are not enough significant, ambitious and commercially sustainable new projects in the Sheffield City Region to transform the economy, the Chambers of Commerce for Sheffield, Doncaster, Barnsley and Rotherham and Derbyshire, Nottinghamshire, Leicestershire have joined forces to create the Big Investment Project (BIP).
BIP will act as a catalyst to generate new growth opportunities – projects typically above £10m and up to £75m – put forward from businesses and individuals for the region. Through an evaluation board featuring local and national business leaders, BIP will identify the best projects to go forward to a group of mainly London-based investment fund managers who are set to visit the region early next year.
The project is endorsed by Lord Bilamoria of Cobra Beer, Lord Wolfson of Next and Keith Morgan from the Business Bank based in Sheffield.
Jill Thomas, junior vice president of Sheffield Chamber and chief executive of Future Life Wealth Management, is among a number of leading figures across South Yorkshire and the Midlands from sectors including finance, local government, business and education who will sit on the BIP evaluation board.
She said: “The Chambers have access to fund-holders waiting to invest but who quite simply do not have the projects to invest in. We want to change that by providing specialist help to turn large, transformational projects ideas into reality.”
