MORE than 200 Solent jobs have been created by a business support programme.

The Manufacturing Growth Programme (MGP) has helped manufacturers across the Solent create or safeguard 204 jobs since 2016.

The scheme was created and delivered by Oxford Innovation Advice, which will now see funding from European Regional Development Fund end.

The company is urging the government and local authorities to ensure that tailored advice for manufacturing SMEs is quickly put in place.

MGP was launched in 2016 and has been providing grant funding for business improvement/capital projects and specialist mentoring from industry experts, with tens of companies assisted across Hampshire, the Isle of Wight, Portsmouth and Southampton.

It has delivered £568,937 of grants that, in turn, have unlocked £1.16m of private sector investment.

Jane Galsworthy, managing director of Oxford Innovation Advice, said: “This independent evaluation further demonstrates that specialist business support programmes like the Manufacturing Growth Programme play a crucial role in supporting companies to overcome everyday challenges and barriers to growth.

“With the new UK Shared Prosperity Fund (UKSPF) dividing up funding for business support at a very local level, there is a risk that businesses will only be able to access generic, low-quality support which delivers lower value for money and less measurable impact on businesses and the economy.

“We’ve proven over the last seven years what targeted support can do for SME manufacturers, helping them accelerate growth, improve productivity and create jobs.

"With funding for MGP coming to an end, this creates a significant hole in specialist high-quality support for smaller manufacturers.

“The results of our own survey of manufacturers revealed reinforces this, with 91 per cent of companies admitting they do not know where to turn for business support once this programme completes.

“Manufacturing is critical to the UK economy as it accounts for around half of all UK exports and nearly 10 per cent of the country’s overall economy (GVA).

"We are keen, therefore, to engage with government agencies and local authorities to see how funding can be best utilised to provide continued specialist support for manufacturers.”