What's Happening?
Composty, an eco-business based in the Black Country, is urging the government and West Midlands Combined Authority to continue supporting the Business Growth West Midlands Investment Readiness (BGWM IR)
Programme. The company, known for its biodegradable sponges and compostable cleaning cloths, credits the program with helping it achieve significant sales growth and secure funding. Composty has raised its profile by participating in Amazon's Sustainability Accelerator and is on track to sell its millionth product. The company is advocating for the continuation of the BGWM IR Programme, which is set to end in March 2026, as it prepares for the Business Funding Summit in Birmingham.
Why It's Important?
Composty's success highlights the importance of investment readiness programs in supporting small and medium-sized enterprises (SMEs) and fostering sustainable business practices. The company's growth demonstrates the increasing consumer demand for environmentally responsible products and the potential for eco-friendly businesses to thrive with the right support. The BGWM IR Programme has played a crucial role in helping businesses like Composty access funding and develop financial literacy, which are essential for scaling operations and achieving long-term success. The continuation of such programs could have a significant impact on the regional economy and the development of sustainable industries.
What's Next?
The Business Funding Summit, scheduled for November 25th, will bring together SMEs, investors, and industry experts to explore funding opportunities and best practices. Composty and other businesses will have the chance to connect with potential investors and showcase their products. The summit represents a critical opportunity for Composty to secure additional funding and expand its market presence. As the BGWM IR Programme approaches its funding deadline, stakeholders are likely to advocate for its extension to continue supporting high-growth firms. The outcome of these efforts could influence the availability of resources for SMEs in the West Midlands and beyond.
