North of Tyne Combined Authority urge small businesses to apply for grants while there's still time

Small businesses have been urged to apply for grants available for just a short time longer from the North of Tyne Combined Authority.

Any small or medium sized business planning a project worth £67,000 or upwards could gain financial help from the £4.6m North of Tyne Business Growth Fund, supported by the European Regional Development Fund.

Already 20 businesses in Newcastle, North Tyneside and Northumberland have gained cash to grow. But the deadline for applications is approaching fast, which means any business thinking of investing should apply now.

Growth fund project advisor Brent Smithson said: “This is ERDF funding for business growth but it is going to run out soon, so act now.”

Mayor Jamie Driscoll said: “Elected Metro Mayor for the North of Tyne, Jamie Driscoll, said: “Small businesses are the lifeblood of our local economy, but it’s by no means easy for them. We want our small enterprises to succeed.

“That’s why we run targeted, effective programmes like this fund for them. We’ve already supported plenty of companies to take the next steps, grow, and create new jobs.”

Grants from £20,000 to £200,000 are available from the North of Tyne Business Growth Fund to businesses wishing to grow in the North of Tyne region.

Delivered by NTC in partnership with UMi, the primary aim of the fund is to create employment and stimulate business growth. When complete, the Business Growth Fund Programme will have leveraged in an estimated £10.5m of private sector investment.

By Mark Adair – Correspondent, Bdaily

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