Finnish Entrepeneurs invited to set up in the West Midlands region of the UK 'For Free'

22nd September 2006

Entrepreneurial Finnish companies are being invited to set up in the West Midlands region of the UK ‘for free’ under a new initiative believed to be the first of its kind.

Companies from Finland, and Sweden, are being offered free office space, free legal assistance, and free accounting and company secretarial services, as well as business advice, under the ‘Bridge to Growth’ scheme launched this week.

The project is being co-ordinated by English regional development agency Advantage West Midlands which is heading ‘an incubation partnership’ comprising a range of UK-based service providers.

It is the first time the region has been actively marketed to companies in Finland.

The aim is to provide a quick, easy and economical route into the West Midlands through a ‘one-stop shop’-style brokerage, avoiding the disparate jigsaw that firms can often face when looking to expand overseas.

It is being promoted in Finland by Exportum, Advantage West Midlands’ inward investment agent here.

Although open to businesses of any size, ‘Bridge to Growth’ is principally targeted at small to medium-sized enterprises with ten employees or more and a turnover of €2 million.

Under the scheme participating firms will be provided with a limited company and minimal share capital, free office space at Warwick Science Park for six months, free company secretarial services for a year, free accounting services for three months and free UK-based legal assistance.

“It is the first time Advantage West Midlands has marketed the region here,” said Jukka Mansikka, Director, Exportum. “Until now companies in Finland have been largely unaware of the advantages of locating in the West Midlands.

“We believe the ‘Bridge to Growth’ package being offered is unique, nothing like it is being offered by any other region of the UK.”

Around 1,500 businesses in Finland, and a further 2,500 in Sweden, are being targeted through a marketing campaign, with the hope that a total of 200 companies from the two countries will attend free seminars to find out about the opportunities available.

Seminars in Finland are being held in Oulu on Wednesday 25 October, at the city’s Radisson SAS Hotel, and in Helsinki on Thursday 26 October, hosted by the British Ambassador at the British Embassy. Both seminars run from 2pm to 5pm.

Jukka said: “Oulu is the hub for ICT and medical technology companies in Northern Finland and we hope to attract senior decision-makers from those businesses.

“The growth of an ICT business ‘cluster’ in the West Midlands will be attractive to them, but the region also offers opportunities for traditional machinery and automation industries which will be looking to set up sales, after sales and logistics operations.”

Richard Butler, head of inward investment for Advantage West Midlands said: "We have chosen to target Finland and Sweden because there is a wealth of entrepreneurial spirit there which rapidly translates itself into international export activity due to the relatively small size of their domestic markets.

"However, many companies end up not exporting because they find it is too difficult and too complicated. Through this exciting partnership we have drawn together all the strands to make it quick and easy to set up in the West Midlands with a start-up period which is financially very attractive."

Companies can register by visiting www.bridgetogrowth.com.

For further information please contact: Jukka Mansikka, Director, Exportum Oy phone: +358 40 5005566, email: jukka.mansikka@exportum.com