Ballymena entrepeneurs boosted by Michelin business fund

The local economy in the Ballymena Borough Council area has received a boost following the launch by tyre manufacturer Michelin of its a new business start-up initiative for small and medium enterprises (SMEs) today.

The scheme is part of the company's sustainable development programme and aims to introduce a new source of funding that can stimulate growth for employment and increased manufacturing capacity in the region.

Once a business enterprise has submitted a viable business plan, with the help of a personal business advisor from the Ballymena Business Centre – the application will be submitted to the Michelin Development Steering Group for approval.

The Michelin Development Fund can provide access to business finance - unsecured loans from £5,000 can be made through the Ulster Bank. The financial support will be backed up by the availability of Michelin advice and expertise following the application process.

Michelin has said that priority would be given to manufacturing operations, IT, environmental technologies and those that can demonstrate that their project can deliver products to other local businesses thus safeguarding local community employment and supply chain.

Bob Wilcox, Director of Michelin Development, said that Ballymena was a "very important facility" in the manufacturing network.

He added: "We are launching this opportunity for ambitious businesses in the region because we believe that our industrial and commercial experience can help small and medium sized enterprises avoid many of the pressures and pitfalls of expansion. If we can help an employer with its problems then that business will grow faster and offer better prospects locally. We are offering access to financial support and to Michelin’s expertise – the two most useful resources for business.”

The Michelin fund was launched in association with Invest Northern Ireland, Ballymena Business Centre, Ballymena Borough Council and the Ulster Bank.

(gmcg)