A Jewellery Quarter training provider is to create 30 jobs after securing £750,000 funding from Finance Birmingham.
Succeed secured the capital from Birmingham City Council and Finance Birmingham’s Business Loan Fund.
Finance Birmingham was set up by the council as a public-private partnership in the wake of the recession in 2010 to oversee a £10 million package of loans to SMEs, filing the gap left by risk averse high street banks.
Succeed was founded in 2011 and employs 42 staff.
The monies will be used for new training workstations, leasehold property and to support the delivery of a recent contract win with the Skills Funding Agency.
Clive Broadhurst, investment executive at Finance Birmingham, said: “Succeed is a well-run business providing a demonstrable uplift in the training, qualifications and skill base of often younger people – exactly the type of business that the Business Loan Fund was made available for.”
Ian Allen, chief executive of Succeed, added: “The funding from Finance Birmingham has provided the working capital we needed to employ more staff and increase our level of activity, enabling us to deliver more training and apprenticeship programmes across our key sectors and operate on a significantly larger scale.”
Succeed currently runs 150 apprentice programmes, with a further 250 starting shortly. It also works alongside companies including Marks & Spencer, TK Maxx and National Express.
The latest investment comes little more than a month after Finance Birmingham put £4.1 million into automotive firm Delphi Diesel Systems.
The funding is set to create 25 jobs and will allow Delphi to develop rail system technologies as part of an advanced development research project which started in May this year and is expected to last for three years.