Eco-Business Calls For More Investment Readiness Support

A Black Country eco-business that is on course to sell its millionth product has urged the government and West Midlands Combined Authority to continue its backing of the Business Growth West Midlands Investment Readiness (BGWM IR) Programme.

Composty, which has shot to fame with its biodegradable sponges and compostable cleaning cloths, believes the advice, financial literacy education and the opportunity to connect with investors it received has been crucial in helping it increase sales to £500,000 in just a few years.

Led by husband-and-wife team Matt and Helen Guest, the Kingswinford-based company even managed to raise funding at a special IR event pitch, giving it the confidence and additional finance needed to be successfully chosen for Amazon’s Sustainability Accelerator.

The duo made the rallying call on the eve of the flagship Business Funding Summit, which is aiming to attract 150+ SMEs and high-growth start-ups to a full day of networking and best practice activity at the Eastside Rooms in Birmingham on November 25th.

“Consumers are increasingly turning away from products that are not environmentally responsible, and I think there is real potential for our business to become a £10 million concern in the years to come,” explained Matt, who has now given up his teaching role to focus on the expansion of Composty.

“We were bootstrapped like a lot of other growth start-ups, where we had the opportunity, but we didn’t know where to go for additional funding or how to model financial forecasts correctly. This is where Investment Readiness came in and made such a difference.”

He continued: “The specialist financial advice, connections and introductions to a host of alternative funding options gave us the confidence to accelerate our plans and we should hopefully be seeing Composty sponges and clothes on the shelves at supermarkets, farm shops and independent retailers shortly."

“Investment Readiness is one of the best business support offers we’ve come across and we’d love for it to continue after its funding comes to a close in March 2026.”

The Business Funding Summit 2025 is the premier event of the Business Growth West Midlands (BGWM) Investment Readiness Programme, which is proudly delivered by Oxford Innovation Advice across Birmingham, Solihull and the Black Country.

More than 150 local businesses are expected to descend on Birmingham next week to connect with like-minded entrepreneurs, investors and industry experts – with the overall aim of unlocking finance and accelerating growth.

Throughout the day, there will be the chance to quiz an investor panel of angels, VCs and fund managers on what they are looking for, explore a SME marketplace of over 40 companies showcasing their products and services and the rare chance to listen to a keynote address from Silicon Square founder and former WM Tech Commissioner Martin Ward.

There will also be presentations from several success stories that have secured funding, including Mini Monkeys, Truzy, Selene Clinical Research and Zanta Healthcare.

Catherine Bray, West Midlands Regional Director of Oxford Innovation Advice, continued:

“More than £4.2m has been successfully raised by growing firms thanks to the BGWM Investment Readiness Programme, proving without doubt we have developed an initiative that works and helps companies master a topic that many struggle with."

“The Business Funding Summit is a great opportunity to bring together everyone from the finance community so we can educate, inform and hopefully connect the next generation of high-growth firms with specialist advisers and funders who can make a real difference."

“This will be our last major event before our latest round of funding comes to an end in March 2026. Due to the positive impact we’ve had in the West Midlands, we’re hoping to bid for a new package that will see Investment Readiness carry on for a few more years.”

BGWM’s Investment Readiness Programme has supported 2000 clients with tailored financial support since October 2023 in a bid to accelerate their funding journeys.

This has helped with writing business plans and completing detailed financial forecasts, to creating pitch decks and exploring different types of finance, including asset, crowdfunding, debt (loans and overdrafts), grants and equity.

Whilst £4.2m of investment has been secured to date, there is also a further £4.7m of debt and equity bids currently in the pipeline and waiting approval.

Catherine concluded: “It's more than just raising finance; business success relies on high levels of financial literacy."

“We help SMEs develop their financial management skills, working with clients to identify short, medium and long-term funding requirements, putting in place plans to facilitate immediate and future raises. It’s often the key that unlocks their expansion plans.”