New fund aims to tackle SME funding barriers

A new programme aimed at helping small businesses overcome funding challenges has been launched across York and North Yorkshire.

The Get Funded initiative, part of mayor David Skaith’s Business Innovation Fund, will provide practical support to companies seeking grants, loans or investment. 

Backed by £200,000, the scheme will run until December 2027 and is designed to help businesses strengthen financial planning and improve their chances of securing external funding.

Mayor Skaith said: “We're home to incredible businesses with great ideas, but they need more than that to grow, they need investment. 

“So, we’re backing business by giving them the tools they need, taking a big step forward in my mission to back ambition and make this region the best place to start and grow a business. 

“Get Funded is about breaking down one of the biggest barriers that holds back too many of our small and medium businesses back.” 

York and North Yorkshire Combined Authority has appointed business support specialist UMi to deliver the programme.

It will begin with an introductory webinar before progressing through a series of specialist workshops focused on funding options and investment readiness.

A group of 24 businesses will also be selected for tailored one-to-one coaching to help accelerate their growth plans.

Nicki Clark, chief executive at County Durham-based UMi, said: “We are excited to be working with the York and North Yorkshire Combined Authority to bring the Get Funded Programme to the region, improving access to finance and the opportunities that presents to local businesses. 

“UMi has a strong track-record of working within the funding ecosystem, and with our extensive experience in grant delivery and investor readiness, we believe this is a fantastic opportunity to help businesses overcome financial barriers and receive the specialist support they need to grow.” 

Get Funded completes the Business Innovation Fund, a five-programme initiative supporting sector activity, start-ups, exporting and new ideas across the region.

To find out more and to register for the programme, see here.

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