The North East Fund provides finance to start-up, small and medium-sized companies (SMEs) based in South Tyneside and across the region.
Since it was launched in 2018, the North East Fund has built on the work of its two predecessors. Over the last two decades, the three schemes have generated more than £1 billion of investment in local companies – boosting business growth and creating thousands of jobs.
In total, the funds have invested almost £400 million in 2,275 North East companies across multiple sectors.
To date the North East Fund has helped 15 South Tyneside based companies to raise £14.5 million and has also provided non-financial support relating to business plan preparation to over 90 businesses.
Investment Aids Growth of Boldon Traffic Management Experts
Mercia Ventures opened its first North East office in 2018 to deliver the Venture Fund. One of its early investments was also one of Mercia’s largest, with a total of £8 million being invested in Boldon based traffic management specialists Total Resources.
The funding package enabled the company to significantly scale-up its activities, acquiring additional vehicles and equipment and recruiting around 100 more staff.
Fast forward to today and Total Resources has completed over 6,000 projects for multiple clients and now employs over 150 staff working from seven depots across the UK – all overseen from its Boldon Business Park HQ. In pursuing its mission of being the leader in the field of highway maintenance and synonymous with quality and professionalism in the sector, the company has continued to invest in traffic management equipment such as the latest British standards approved traffic light systems.
As well as providing the traffic management services required by local authorities when undertaking resurfacing or upgrading work on the road network, Total Resources also has expertise in managing the traffic around major events. This has seen the company put solutions in place around the Stadium of Light for concerts by the likes of Bruce Springsteen, Rhianna and the Spice Girls.
Far North Looks East With Funding Boost
Fifteen years in global sales roles with technology and engineering companies gave Ian Farrar insight into how best to configure sales and marketing activities.
Understanding that smaller, growing companies may need sales and marketing expertise to help them grow before being in a position to employ staff to undertake those roles, he set up Far North in 2015 as an outsourced provider of business development resource.
Based at One Trinity Green in South Shields, the company has grown to provide a full outsourced business development solution – working with clients to ensure that their business is aligned holistically, reviewing their value proposition, sales process and overarching marketing plan. Far North also provides ongoing marketing services including management of companies’ social media accounts, websites and search engine optimisation, as well staff training and coaching.
A loan from the Small Loan Fund in 2024 has helped the company to recruit further staff to its business development and delivery functions and to increase revenues. With the support of the Department for Business and Trade, it is now exploring opportunities to export services to the United Arab Emirates.
Drop-In Information Sessions
The North East Fund can provide finance for businesses in most sectors, and for different amounts and purposes. For example, a loan of £100,000 to help fit-out premises and take on new staff, or an investment of £500,000 in your company’s shares to help fund the development and launch of a new product.
The North East Fund are hosting a series of drop-ins across South Tyneside over coming months.
12 September 9am – 1pm: The Quadrus Centre
26 September 9am – 1pm: South Shields Business Works
10 October 9am – 1pm: Jarrow Business Centre
24 October 9am – 1pm: One Trinity Green
If you have a fantastic business idea but don’t know what funding is available, or how to present the idea in a structured plan, then drop-in to speak to External Engagement Officer for the North East Fund James Holloway.
James can explain how debt or equity funding from the North East Fund might work for you as well as how to pull in funding and support from other sources.
The North East Fund can you help you build a full package of support and provide guidance on completing their funding applications – all on a free, confidential and no obligation basis. Either drop-in or book a time slot with James Holloway call 07395791653 or e-mail: James.Holloway@northeastfund.org
