Jump to navigation
The Midlands Engine Investment Fund (MEIF) is a key part of the Midlands Engine Strategy. It aims to transform the finance landscape for smaller businesses in the Midlands and to realise the region’s potential to achieve economic growth through enterprise. As well as providing £250 million of lending and investment to smaller businesses, it will help to develop the business networks and the wider ecosystem that are crucial to achieving long-term prosperity in the Midlands. After a gap analysis undertaken by Regeneris for the EIB and the Department for Communities and Local Government, MEIF decided to offer the following financial instruments in the East- Midlands and West- Midlands regions:
This measures can boost the entrepreneurship thanks to the support to the birth and the growth of the SMEs. The answer from the final recipients has been good since a lot of SMEs applied to the fund.
The regional stakeholders must be sure about the financial gap in the market. The SMEs must face problems in borrowing and/or raising money. Moreover in the target area there could be a good entrepreneurial activity. The things that must be avoided when launching this kind of measure is believing that this without collateral activities (e.g. mentorship) could improve the entrepreneurial spirit in the area.