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New initiative launched to help new Tees Valley startups and budding entrepreneurs

Budding Tees Valley entrepreneurs have been boosted by a new business support scheme, launched to help new startups in the area.

The new support initiative, Business Compass Start Up, will help people aged 18 to 30 looking to set up a business in sectors including: advanced manufacturing, automotive, chemical and process, digital, healthcare, logistics, low carbon and oil and gas.

Personal business advisors will establish support packages bespoke to the differing needs of each applicant.

Support packages will include an extensive range of workshops covering all aspects of business from company structure through to business planning, sales, marketing and social media.

The programme has been launched by Tees Valley Business Compass, the Local Growth Hub for the Tees Valley Combined Authority and will be administered by the North East Enterprise Agency Ltd (NEEAL).

Dave Budd, Chair of Tees Valley Combined Authority, said: “Business Compass Start Up is a new initiative that supports the creation of new businesses in Tees Valley. The scheme aims to support economic growth with a number of new business investments and future job creation.

“The scheme offers personalised support for each individual and a wide range of workshops that will help put the businesses in the best position possible to succeed.”

Paul McEldon, Chairman of NEEAL, said: “Launching your own business can be a daunting and confusing process, the new Business Compass scheme is there to help individuals across the Tees Valley make their aspiration of owning a business reality.

“I encourage anyone with a business plan or just an idea for a new business to take advantage of the opportunities the new initiative can offer.”

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