Tsunami investment help unveiled
The Manufacturing Advisory Service-West Midlands (MAS-WM) has announced it will plough £300,000 of funding into companies in the region which were affected by the tsunami in Japan.
Businesses which can show they were affected by temporary production shutdowns caused by the natural disaster will be eligible to apply for a support package created by the organisation.
Up to seven days of specialist support in financial management, renegotiating finance terms and help in minimising the impact of delays in supply will all be available to companies.
Rachel Eade, MAS-WM auto project manager, said: "We have developed this support package having spoken in great lengths with the supply chain about what is needed. This immediate assistance will hopefully help firms negate the potential issues that may arise from temporary shutdowns.
"One of the biggest problems is that a lot of companies have invested in new staff, more material stocks and even additional machines to cope with major volume increases across the globe. If they’re not supplying, they’re not getting paid and this could create short-term issues that, with the right level of specialist assistance, can be overcome."
The support package will involve up to seven days of support from a MAS-WM adviser, a sourcing expert or a finance specialist.
