ONF closes after distributing £90,000 in grants

A North East business support initiative has disbanded after successfully distributing £90,000 in grants to help small businesses recover and grow post-pandemic.

The Open North Foundation (ONF), launched during COVID-19, has provided financial support to 30 SMEs across the region. 

Established by Richard Swart, ONF was supported by regional business leaders, including Richard Bradley, managing director of Dyer Engineering, who took over as chair in 2023. 

Richard Bradley said: “When ONF was created during the devastating Covid pandemic, the goal was always to help businesses in the North East stay strong, grow and create long-term, sustainable jobs. 

“It was a spontaneous and tenacious response by the business community to support smaller SMEs in the region. 

“It’s been an honour to take over the mantle from Richard Swart, whose vision has helped so many local businesses pivot and recover during such uncertain times.

“We have seen the positive impact of the grants and the advice we’ve been able to provide and I am confident these businesses will continue to thrive moving forward.”

Grants, which ranged from £2,000 to £5,000 and were provided thanks to the generosity of individual businesspeople and organisations in the region, were awarded to firms including Compliant, Durham CC, Virtual Memory, Howarth and North Star.

In recent months, ONF’s ‘Grants Sprint’ allocated remaining funds to businesses for staff training, consultancy, IT equipment and development.

Richard added: “The directors feel that with the new year upon us, now is the appropriate time to bring the ONF to a close and we can all look back with tremendous pride on the positive impact the organisation had on so many people and businesses during one of the bleakest periods in UK history.”

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