Socket and Allied Screws Limited
When the long established material and manufacturing company – Socket and Allied Screws Limited – were looking to access finance for business growth, they turned to Birmingham City Council’s Business Growth Programme.
Based in the heart of the West Midlands since the 1980’s, Socket and Allied Screws Limited is a producer of bespoke fastener components. Following approval of their Business Growth Programme grant, the company invested £135k in new CNC machinery to achieve growth in both the UK and globally.
Managing Director, Kevin Bradley said: “With the downturn in the oil and gas industry, we have made a conscious decision to move into other industry sectors and broaden the range of products we produce. Given the new CNC machinery we have purchased, we are able to produce components from exotic materials and actively pursue new opportunities with the renewables, automotive and aerospace sectors”
Following a quick and streamlined application process, Socket and Allied Screws were awarded grant funding of over £27k from the Green Bridge Supply Chain Programme, which is one of the 4 strands of support offered under the Business Growth Programme.
“Birmingham City Council has been extremely helpful, enabling a successful outcome to our Green Bridge grant application, which has supported the purchase of the new CNC machinery and the creation of 3 new skilled machinist jobs”.
For more information about the Business Growth Programme, visit www.birmingham.gov.uk/bgp@ERDFBGP
The Business Growth Programme has received or is receiving up to £16.3m of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department of Communities and Local Government is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations.
For more information visit https://gov.uk/european-growth-fund.
For support with applications and to find out more please contact firstname.lastname@example.org