South Tyneside businesses are being encouraged to explore funding opportunities through the North East Fund, as a new programme of support clinics takes place across the borough this autumn. The clinics offer local businesses the chance to meet directly with a funding specialist and find out what support may be available to help them grow.
The North East Fund is set to unlock £350 million of investment for businesses across the region over the next five years, helping ambitious companies access finance to invest, innovate and scale. Funding can support a range of growth projects, including the purchase of equipment, expansion into new premises, recruitment of staff and the development of new products and services.
The value of the Fund is already being demonstrated in South Tyneside. Earlier this month, Jarrow-based Cut Print Solutions secured a six-figure investment from the North East Elevate Fund to support the purchase of new production equipment, increase capacity and underpin future growth plans. The company first connected with the North East Fund through a support session held at Jarrow Business Centre, highlighting the role these clinics can play in helping businesses access investment.
Upcoming Support Clinics
North East Fund Advisor James Holloway will be available at the following locations:
- 10 September – South Shields Business Works, 9am to 1pm
- 8 October – Jarrow Business Centre, 9am to 1pm
- 5 November – Quadrus Centre, 9am to 1pm
- 3 December – One Trinity Green, 9am to 1pm
Businesses can either drop in or book a dedicated appointment to discuss their plans and funding requirements in confidence.
Is Your Business Eligible?
The North East Fund is designed to support ambitious small and medium-sized businesses (SMEs) across North East England that are looking to start, scale or accelerate growth. Funding may be suitable for businesses that are:
- Looking to invest in new equipment, machinery or technology.
- Planning to recruit staff or create new jobs.
- Expanding into new markets, premises or product lines.
- Developing innovative products, services or business models.
- Seeking growth funding from £50,000 upwards.
Businesses do not need to have a completed application before attending. The clinics provide an opportunity to discuss plans, understand which funding options may be suitable and receive guidance on the application process.
Funding Available
North East Elevate Fund
Managed by FW Capital, the North East Elevate Fund provides loans from £50,000 upwards to businesses looking to finance growth through investment in equipment, premises, recruitment or expansion projects. It can also provide loans and mixed loan/equity investments of up to £1 million for established businesses.
North East Accelerate Fund
Managed by Mercia Ventures, the North East Accelerate Fund provides equity investment of £50,000 to £1 million for innovative, early-stage businesses, supporting companies from start-up through to scale-up.
James Holloway, External Engagement Officer at North East Fund, said:
“Cut Print Solutions is a great example of how businesses can benefit from engaging with the Fund. We first met the team through one of our drop-in sessions and were able to support them on their funding journey. We’d encourage any South Tyneside business with plans to grow to come along and find out what support may be available.”
Councillor Susan Sybenga, Deputy Leader of South Tyneside Council and Lead Member for Finance and Resources, said:
“It’s fantastic to see local businesses such as Cut Print Solutions benefiting from the opportunities available through the North East Fund. Access to finance can be transformational for ambitious businesses, helping them invest, innovate and create jobs. We would encourage other South Tyneside businesses to attend one of the upcoming clinics and explore how the Fund could support their growth plans.”
To book a place or find out more, contact James Holloway on 07395 791653 or email James.Holloway@northeastfund.org. For further information about the North East Fund, visit www.northeastfund.org.
