Programme primes North Tyneside firms for growth

Businesses in North Tyneside are being offered specialist support to strengthen their growth plans and prepare to secure external funding and investment.

The North Tyneside Investment Readiness Programme has been launched by Business North Tyneside, North Tyneside Council’s business support programme, and will be delivered by County Durham-headquartered business support specialist UMi.

Funded by the North East Mayoral Strategic Authority, the initiative will help businesses understand finance options, identify growth opportunities and develop plans that appeal to investors and funders.

Support is aimed at firms looking to recruit and develop staff, invest in new products, services or equipment, increase capacity or enter new markets.

Independent evaluation of similar programmes found 62 per cent of participating businesses had secured funding or expected to do so within 12 months.

Twenty funded places are available, with participants attending three workshops at the Linskill Centre in North Shields.

The first, Defining the Opportunity, takes place on September 22 and will explore growth ambitions, finance options and investment readiness.

A second session, Validating Markets & Business Models, follows on October 13, focusing on market demand, customer needs and building a scalable proposition.

The programme concludes with Building Investor Confidence on November 3, helping businesses demonstrate their strengths, plans and growth potential to potential backers.

Participants will also receive practical tools and a tailored action plan, while selected businesses showing strong growth potential could be offered additional one-to-one support.

Applications are open until September 8.

Officials say the programme is designed to ensure businesses understand the funding landscape and are properly prepared before approaching potential investors.

Councillor Charlie Gray, cabinet member responsible for regeneration and economic development at North Tyneside Council, said: “North Tyneside is home to so many incredible, hugely ambitious businesses and as they grow, they create opportunities. This growth creates jobs, supports the development of skills, attracts investment and strengthens the local economy.

“Investing in our businesses is investing in the future of North Tyneside. 

“We know that many businesses have exciting plans for growth but can sometimes be unsure about the funding and investment opportunities available to help them realise those ambitions. 

“This programme has been designed to provide practical support, expert guidance and the confidence businesses need to take the next step.

“We want businesses of all sizes to know that support is available and we’d encourage any eligible businesses to take advantage of this opportunity and explore how the programme can support their future plans.” 

Simon Allen, head of programmes and partnerships at UMi, added: “Across North Tyneside, there are businesses with fantastic ideas, growth ambitions and opportunities to create jobs and invest in their future. 

“Being investment ready isn’t just about raising finance. 

“It’s about building a stronger business, understanding your market, demonstrating your potential and creating a clear plan for sustainable growth.”

To find out more and to submit an expression of interest, click here.

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