A new initiative will be launched this month aimed at supporting 300 expanding companies in the West Midlands.

Delivered by Business Link West Midlands (BLWM), the 10-day ‘Coaching for High Growth’ scheme will help firms realise their potential by overcoming barriers to growth, creating more than 600 new jobs in the region over the next year.

The initiative, which is fully funded for SMEs, provides up to £10,000 of expert support to develop and review a company’s growth strategy and provide hands-on assistance in helping it overcome any barriers identified.

This may focus on management and team structure, R&D, entering new markets, customer relationships and, importantly, increasing sales.

Lorraine Holmes, chief executive of Business Link West Midlands, said: “If our region is to compete on a national and international stage, we have to do everything we can to encourage businesses that have the potential to grow and create jobs.

“This scheme has been developed with this in mind and gives companies access to the best possible advice and guidance to help them overcome ‘growing pains’ and expand.”

She continued: “We are ideally looking for established companies, predicting annual increases in turnover of 10 per cent and who have a minimum of two employees.”

‘Coaching for High Growth’ is designed to have an instant impact on the bottom line and further support is also in place for companies who may need help with accessing finance.

This will involve putting them in touch with Connect Midlands, who help SMEs understand the issues and opportunities around raising finance and also providing them with access to a number of funding opportunities.

In addition to the new service, BLWM is still ‘open for business’, offering practical help through telephone advice, start-up support, online information and a series of 50 events held across the West Midlands.

Business Link West Midlands assisted more than 62,000 companies and pre-starts in the last twelve months helping to safeguard and create in excess of 3,000 jobs.

To find out more about ‘Coaching for High Growth’ contact 0121 506 0585 or email highgrowth@businesslinkwm.co.uk