Solihull energy firm expands after new funding deal sparks growth
A SOLIHULL energy firm is expanding after receiving new funding support from a scheme designed to help businesses grow.
Ecuity consults on low carbon energy and environmental regulation. It advises companies in the UK and internationally on political aspects of developing markets for low carbon energy solutions.
The firm was founded by James Higgins and Dave Sowden in 2012 and currently employs 15 people, advising on a wide range of issues including whole-house energy efficiency retrofits via Government’s Green Deal programme, renewable energy generation and smart grids.
Tapping into the Business Development Programme run by the Greater Birmingham and Solihull Local Enterprise Partnership has enabled the firm to expand into new offices at Radcliffe House, Blenheim Court.
The BDP is supported by the European Regional Development Fund and attracted nearly £4m of investment as part of the EU’s support for local economic development through the ERDF Programme 2007-13.
James Higgins, a partner at Ecuity, said: “The BDP grant has come at a perfect time in our development, moving into a larger open plan office has enabled us to create a workspace consistent with our values and our brand. It’s really helped us rethink the way in which our staff collaborate and share ideas and new ways of working.”
Cllr Ian Courts, cabinet member for Economic Development at Solihull Council, said: “It is great to see the growth of local companies such as Ecuity, supported by the BDP. We recognise finance is a key issue for businesses and this initiative provides a critical stepping stone to enable organisations to realise expansion and recruitment plans.”
He said that already more than £2m in grants and match funding had been secured across the programme, together with the creation of over 300 jobs.
“Business feedback is that the biggest obstacle to growth is a lack of access to bank finance and this innovative programme provides an essential resource to support business growth in Solihull and the West Midlands,” he added.
The BDP is an £8m business support programme aimed at helping more than 200 SMEs across the GBSLEP area.
To qualify for funding of between £10,000 and £15,000 towards business expansion projects, companies have to have been trading for more than six months and have expansion plans ready to implement that will safeguard existing jobs or create new ones. The programme operates across the whole of the GBSLEP area. Grants cover 45% of the costs of an eligible project, subject to satisfying criteria and approval.
