UMi hits £1billion investment milestone with Yorkshire firms benefitting

UMi, a leading business advice and funding solutions specialist, has reached a major milestone by unlocking more than £1 billion in investment for British businesses since its launch in 2007.

The funding, which includes grants, loans and private sector investment, has supported ambitious start-ups, growing SMEs and established companies across the UK including Yorkshire.

Working in partnership with both public and private sector organisations, UMi has been pivotal in helping businesses access the right support to innovate, expand, and in some cases, survive.

The achievement comes at a key time for the UK’s business community – the Government recently unveiled its Small Business Plan, a landmark package designed to help SMEs access finance, boost digital adoption, and strengthen leadership skills. UMi’s track record of delivering investment and support reflects and amplifies many of these national priorities.

In Yorkshire alone, UMi has supported the region’s growth journey for over 18 years having seen more than £46m being invested in 1,770 businesses. This has played a significant part in SME growth within the regional economy as well as generating circa 1,080 local jobs.

One example is the Let’s Grow Programme (supported by authorities in the North East, Tees Valley, and the York and North Yorkshire Enterprise Partnership) which enabled Wensleydale Brewery to secure a £30,000 grant to relocate and increase production.

Geoff Southgate, Co-Managing Director of Wensleydale Brewery said: “We both [Geoff and Co-Managing Director, Carl Gehrman] worked for the brewery after leaving school, and when the then owners decided to go on a new path, it was either take it on ourselves or look for other employment. We felt it still had potential to move forward so we took the plunge.

“Thanks to a lot of help and local support, and securing a £30,000 grant from UMi, we managed to get it on the right path pretty quickly. With us being first time borrowers, it would have been very difficult for us to borrow enough to make the project possible, so the grant offered the extra security the bank was looking for and it was a positive outcome on two fronts.

“Without the new brew plant, it would have been impossible for us to grow, and with the increased capacity, we began to expand on our existing sales.”

Grants are equally important to unlock and support growth in the region’s businesses and UMi works with firms to raise capital in line with objectives. A great example of this is The Tofoo Co based in Malton, who successfully applied for a £25,000 grant to work towards a larger capital plan.

David Knibbs, Director of The Tofoo Co, said: “With sales growing at a rapid rate, we didn’t have enough processing capacity. We had developed a capital plan that needed a further £250,000 of investment but unfortunately, we didn’t have all the funds to be able to complete the plan so needed support from UMi to help us meet the demand we were seeing from our customers.

“Having developed the plan, we worked together with the UMi team to refine a proposal to gain support. Lydia and I (David’s wife and co-owner) made a presentation to the grant panel and our application was successful. This allowed us to make the investment to double capacity at the site and add further staff to our payroll. It also looked likely that we would have to double capacity again to keep up with sales.”

Nicki Clark OBE, Chief Executive of UMi, expressed her appreciation and enthusiasm for achieving this milestone by saying: “This is a fantastic achievement and a significant milestone for UMi as we continue to support businesses up and down the country and across all industries. Our teams do an amazing job working hand in hand with our customers to ensure they access the right funding solutions tailored to their needs. Reaching this milestone underscores our commitment to supporting businesses from the very start of their journey and helping them succeed.

“Since 2007, we have seen so many businesses go on to achieve great things because of the funding they have received. From launching and scaling up to delivering new products, services or driving forward innovation, we’ve witnessed first-hand the incredible impact these small businesses have had (and continue to have), with UMi helping to navigate the funding landscape and driving growth on a local, regional and national level too – it’s great to see.”

According to British Business Bank, 60% of SMEs struggle to access the right funding simply because they often don’t know how to navigate the process or what finance options are available in the marketplace. Whether grants, loans or investments, it can often be seen as ‘daunting’ and so dedicated services like UMi’s ‘Get Funding’ and ‘Sat Nav’ are vital to offer expert, step by step guidance and tailored ‘one-stop-shop’ support.

Nicki added: “Over the last 18 years, our teams have advised (and/or supported) close to 680,000 businesses which is remarkable, and it is this initial guidance that can make all the difference to business owners. We’ve purposely launched our own service – Get Funding, so that companies can easily navigate their funding journey and obtain expert advice and tailored one-to-one support as and when required.

“This one-stop-shop approach helps align our expert knowledge with a client’s specific needs, meaning funding solutions can be found and informed decisions made in line with their objectives and growth plans. Our Sat Nav platform then compliments this, providing business owners with tools and resources on many other business challenges, including funding, so the support doesn’t end once the money is in the bank.”

As part of the UK Government’s recent Small Business Plan, Minister for Small Business and Parliamentary under Secretary of State, Gareth Thomas MP, highlighted a boost for SMEs with new start-up loans and the most ‘comprehensive support package in a generation’ being launched to give businesses the tools they need to do more and drive economic growth.

UMi believes the move will further strengthen its offering too by encouraging more SMEs to seek advice and funding routes to help generate growth, create new jobs and deliver a sustainable economy where people thrive.

Since 2007, UMi has supported more than 680,000 businesses across the UK, investing £335m in grants and loans, unlocking £670m in private investment, creating or protecting 46,000 jobs and enabling contract wins worth £200m.

Across the UK, UMi’s work has not only helped businesses secure investment but has also created wider economic and social impact. From ambitious start-ups to established blue chip companies, the organisation helps businesses do more and go further by simplifying their journey and connecting them to the support they need.