UK Steel Enterprise makes its 6,000th investment
BUSINESS support organisation UK Steel Enterprise (UKSE) has made its 6,000th investment into a UK business.
The Tata Steel subsidiary supports growing businesses in steel production areas with finance and premises was set up nearly 40 years ago and is actively supporting businesses in The Black Country.
It has supported a wide range companies across the region, investing up to £750,000 in companies such as Sirus Automotive, Blackheath Tube and Bourne Technical Mouldings in the Black Country.
In total, UKSE has invested more than £80m into businesses and the 6,000th milestone investment went to Abbeydale Food Group, a company that has achieved annual sales approaching £10m and created 150 jobs.
UKSE regional manager, Keith Williams said: “This is an incredible milestone to achieve and one that we are very proud of. We remain committed to supporting growing businesses in the Midlands with a range of finance that is not easily available from elsewhere.”
UKSE provides loan and equity packages of up to £750,000 which can now be supported with grants from its Access to Finance Scheme, set up recently with backing from the Government’s Regional Growth Fund.
In the Black Country the company has also supported a raft of start-up businesses through its Kickstart Fund providing smaller amounts to get new businesses trading, helping the local economy to grow by creating jobs in the area.
One such is KenRox Contracts, launched by project management and fit out worker Tony Dunn after he was made redundant.
Rowley Regis-based Dunn was laid off by Birmingham-based adi Interiors. He was informed of the redundancy in April, finished in May and after getting funding from UKSE started trading in July.
He said: “I’ve been managing major projects for many years and have been really surprised how well the business has been received so far.”
Within days of launching Dunn secured a contract to work with the Co-op to manage the move of its head office/distribution centre in Newcastle under Lyme and another contract to work with the manufacturing support organisation EEF to manage its move from Tyseley to Perry Barr in Birmingham.
He is currently in negotiations for further major blue chip projects around the UK.
Grant applied for help from UKSE’s aforementioned Kickstart Fund, which provides grants of up to £500 to start-up businesses to purchase essential equipment and or services that can get them trading.
UKSE’s Williams said: “It may be early days for Tony and his new business but he’s certainly heading in the right direction.
“Our aim with the Kickstart Fund is to help support new businesses that create a positive impact on the Black Country economy and hopefully KenRox can do just that.”
