Michelin Development funding available to boost growth across North Staffordshire

Michelin Development is urging growing businesses in the region to apply for funding that could pave the way for expansion and employment.

Small- and medium-sized enterprises located in and around Newcastle-under-Lyme, Stoke-on-Trent and Staffordshire Moorlands could receive unsecured, subsidised loans and free expertise – if they have the potential to create high-quality, long-term jobs.

Carol Hopkins, Michelin Development in the UK, said: “In spite of all the challenges faced by businesses at the moment, some are absolutely primed for growth – they just need extra support to unleash really significant potential.

“That’s what Michelin Development is here for, and we need entrepreneurs and high-growth companies who want to invest in the future and create local jobs to come forward.”

Michelin Development offers subsidised, unsecured loans of up to £50,000 for projects with the potential to create high-quality, sustainable jobs. Applicants must employ fewer than 250 people and be involved in manufacturing, engineering or business to business services.

The loans can usually be used to attract additional funding from other sources.

Carol added: “There are new and existing businesses across North Staffordshire that are ready to grow – we want to help them reach their potential.”

Michelin Development is backed by a steering committee, which includes Staffordshire Chambers of Commerce, NatWest Bank, Staffordshire Business Innovation Centre and Stoke-on-Trent City Council Economic Development Unit.

Businesses applying for financial support should have no outstanding creditors or repayment arrears and cannot use Michelin Development funding to pay off other loans.

For more information on Michelin Development, visit michelindevelopment.co.uk