A successful business support initiative that has empowered 2,000 small and medium-sized enterprises (SMEs) across the West Midlands is facing an uncertain future, with calls mounting to extend its funding beyond March 2026.
The Business Growth West Midlands (BGWM) Investment Readiness Programme has played a critical role in helping companies like Composty, an eco-friendly business based in the Black Country, to grow and attract essential investment. Owned and operated by husband and wife duo Matt and Helen Guest, Composty produces biodegradable sponges and compostable cleaning cloths. Since engaging with the programme, they are on track to sell their millionth product and have achieved sales reaching £500,000.
The programme offers SMEs tailored advice, financial education, and vital connections to potential investors, equipping businesses with the tools needed to secure funding and scale up operations. As the scheme approaches its scheduled conclusion next March, the Guests have publicly appealed to the government and the West Midlands Combined Authority to ensure its continuation.
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Matt Guest, who left his teaching career to focus full-time on Composty, highlighted the programme’s impact: “Consumers are increasingly demanding environmentally responsible products, and we believe there’s real potential for Composty to become a £10 million business in the coming years. Like many startups, we initially faced challenges in finding additional funding and crafting financial forecasts. The Investment Readiness Programme provided expert guidance and introduced us to alternative funding avenues that accelerated our growth plans.”
The BGWM Investment Readiness Programme will host its final major event, the Business Funding Summit 2025, on Tuesday, November 25, at Birmingham’s Eastside Rooms. More than 150 SMEs and startups are expected to attend, lending added impetus to the calls for continued support.
Catherine Bray, West Midlands Regional Director of Oxford Innovation Advice, which delivers the programme, emphasized its proven results. “To date, growing firms supported by the programme have successfully raised over £4.2 million. The upcoming Business Funding Summit is a pivotal opportunity to connect high-growth businesses with specialist advisers and funders who can make a real impact. With the programme’s current funding ending in March 2026, we are eager to secure a new package to extend Investment Readiness and continue driving regional economic growth.”
Both businesses and organisers underscore that the programme serves as a critical catalyst for entrepreneurship and innovation, and they hope its benefits will reach more companies in the years ahead.