A better way forward with Michelin

The business issue

Michelin Development Ltd as part of the Michelin organisation was set up with the aim to contribute to the economic regeneration and long-term prosperity of the regions in which its factories are located.

The mission of Michelin Development is to work with regional development agencies, local government and business support agencies to (among other priorities) stimulate employment creation through attracting inward investment and encourage skills and entrepreneurship able to support the long-term future of the local region. 

What Michelin Development did

With branches of Michelin Development attached to Michelin’s Plants around the world, the local branch in Ballymena has one part-time member of staff who can offer small firms two things:

  • Access to finance through unsecured loans from £5k to £50k through our associate bank at bank of England base rate with repayment period of 3 to 5 years
  • Access to advice and expertise, free of charge from Michelin’s considerable in-house expertise

Applications to the scheme can be submitted from any new start-up or existing, SME businesses within the Co Antrim area or relocating to the area. Since it began in 2004, almost 70 firms have requested assistance across a wide range of industry sectors.  Of these, 31 received loans and almost 250 days advice and expertise has been provided to support small firms. 

Impact

  • Loans from Michelin Development amounting to £739k for 31 companies have resulted in 233 jobs being created in County Antrim
  • Michelin personnel who have provide advice and support to SMEs through the programme have benefitted in terms of personal development
  • Michelin has benefitted in terms of positive reputation and is now recognised as a supporter of small firms development and a significant investor in the economy of the local area

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