Business leaders reveal keys to success at region’s largest funding summit

Entrepreneurs can open the door to more than £20m to help build their business when they take advantage of expert help and advice available in the West Midlands.

That was the message from founders and business finance experts at the West Midland’s biggest business funding event last week.

Seeking external advice on investment, building robust systems and surrounding yourself with the right people were all highlighted as crucial factors for business success at the Business Funding Summit in Birmingham last week.

More than 160 delegates attended the event organised by Oxford Innovation Advice, which runs the Business Growth West Midlands Investment Readiness programme.

It brought together investors, financial institutions and advisers to help businesses navigate funding opportunities and growth challenges.

Founders including Debra Glover, of eco-friendly cleaning brand Iron and Velvet, Adam Johnson, CEO of The Plough in Harborne and Krishna Yadlapalli, CEO of Booghe Toys, were among the speakers at the event.

Debra told delegates: “Steal knowledge wherever you can find it. Don’t think that you’ve got all the answers. Take advantage of the help and support which is available, it’s invaluable if you want to grow a business.”

Another key message was the importance of building strong foundations before focusing on brand development.

Krishna Yadlapalli, who recently secured £1.2m investment for his retail business, added: “What I realised through this journey is if you can get the operations right, you can build the brand. As soon as we started making money and standing on our own feet, things became easier. Get your house in order first, and the brand will follow.”

Adam stressed the critical importance of choosing the right team. “Surround yourself with great people – that fundamentally is key for me. Surround yourself with people that can do stuff that you can’t. Make sure the people you have around you share your values.”

The value of open communication with investors and stakeholders was highlighted as crucial, particularly during challenging times.

The Business Growth West Midlands Investment Readiness programme has already helped companies access more than £2.5m of funding – with £24m on the horizon for those looking for investment.

Jane Galsworthy, managing director of Oxford Innovation Advice, said: “This event demonstrated that success in business isn’t just about having a great idea – it’s about accessing the right support, advice and networks. The insights shared by our team and speakers reinforced that even the most capable entrepreneurs benefit from external expertise and guidance.”

The free-to-attend event was funded by West Midlands Combined Authority as part of the UK Shared Prosperity Fund and featured exhibitors including Barclays Business Bank, ART Business Loans, Pro Enviro, Frontier Development Capital and Mercia Ventures.