The news follows the publication of NatWest’s Future Fit: the road ahead for UK manufacturing report, which urged greater cohesion between manufacturers, especially medium-sized businesses, to remain competitive.
The new hub is based at Broadlands on the Wolverhampton Business Park. Richard Hill, head of manufacturing and automotive at NatWest, said the bank’s recent research had shown that to survive and remain competitive in the next five to 10 years, medium-sized businesses will need “more cohesive support structure and more networking and mentorship initiatives”.
“The research showed businesses can feel disconnected or even isolated from the wider supply chain and industry, and this hub aims to create an ecosystem where manufacturers and industry stakeholders from across the region can connect, network and support each other,” he continued.
Matthew Grainger, CEO of midlands manufacturer Grainger & Worrall, added medium-sized manufacturers can “often get tied up in the day-to-day world”.
“It’s extremely valuable to have the chance to stop that for a while, get in a room with your peers and have those strategic discussions that keep you moving forward,” he added.
