The North East needs it’s fair share of funding

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Marianne O Sullivan, policy adviser, North East England Chamber of Commerce latest column for the Journal

The Government has announced that the UK Shared Prosperity Fund will allocate £2.6 billion to reverse the country’s geographical disparities. The fund is set to replace previous European Development Funding.

It’s essential that the North East receives the same level of funding as under the EU. The region faces high levels of deprivation and therefore needs to see higher levels of support as part of the levelling up agenda. The Government has said it will match EU funding however we will need to see a regional breakdown of the proposed funding to ensure that this is the case.

Currently UK funds are only due to match EU funds in 2024-2025 as the UK will continue to receive its final allocation of EU money until then. We need clarity over the seven year spending plan and how the funds will be allocated based on need.

The Government has said that it will allocate funding based local population data, and a broadly based measure of need, including factors like unemployment and income levels. These aren’t clearly defined metrics, so we need more clarity on the criteria behind the funding to show that it is being allocated fairly.

This funding is especially important to us in the North East as we’ve received above average EU funds due to allocation based on economic need.  In 2014-20 the North West, North East and Yorkshire and Humber received on average 15 per cent per capita more in terms of EU funding than the UK average.

Added to this, the latest labour statistics show that the region has a higher than average unemployment rate at 5.4% compared to a UK average of 3.8%. We also have the second highest levels of child poverty in the country. It’s essential the region is allocated a fair amount of funding to enable local leaders to tackle deprivation as part of the Government’s levelling up agenda, to ensure people can access opportunities in the North East.

The Government has said funding decisions will be made by elected leaders in local government, with input from local members of parliament, local businesses and voluntary groups. We will be working hard to ensure that the priorities of our businesses are heard and the funding will be put to the best use in the North East.

Chamber welcomes government bus funding announcement

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Marianne O Sullivan, policy adviser, North East England Chamber of Commerce said: “The Government have announced today that the North East is set to receive £163.5 million of bus improvement funding. As a Chamber we were supportive of the bid, as buses play a key role in our region, connecting people to towns and city centres, education and job opportunities.

“The bid included plans for the introduction of an affordable fare for under 19s throughout the region, a single website for journey planning and tickets, bus lanes around city and town centres.  It also promises more real time journey information available to passengers.

This will be essential to enable us to grow bus usage in the North East and as part of the recovery of passenger numbers from Covid.”

Levelling Up: Devolution

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As we continue to analyse the Levelling Up White Paper, we come to the section on devolution. For the purposes of this blog, we’ll just concentrate on English devolution.

 

It is clear from the White Paper that the Government see further devolution as the key mechanism for delivering some of the more eye-catching pledges in the white paper, although it doesn’t go into detail about powers.

At this point it is worth looking a little at what we already have in terms of devolution. The process begun under to coalition government has become a bit of a hodge podge across the country. At the top of the tree are the elected Mayors in the large metropolitan cities, for the purposes of this paper Birmingham and Greater Manchester, where powers over transport, health and blue light services sit alongside responsibility for functions like economic development and inward investment. The next rung down and Mayoral Combined Authorities (MCAs) where an elected Mayor has powers for economic development, inward investment, and adult skills provision but not the other services. These are the types of Mayors we have in the North of Tyne area and the Tees Valley. We also have Local Enterprise Partnerships (LEPs) across the whole country including in areas where there are both Mayors and not Mayors which are a partnership between the public and private sectors and look after economic development but LEPs are under review and may be scrapped or changed. With it so far? Keep notes, there’ll be a test.

The Government recognises that on the whole MCAs have been a good thing and want to roll them out wider and are now looking at traditional Counties as potential new Mayoral bodies. In no attempt whatsoever to relieve the confusion for the ordinary voter, the paper also suggests at County level they could be called Governors rather than Mayors – there was a rumour “Sheriff” had been suggested, but this doesn’t seem to have made it into the final paper.  Whatever they are called, the two areas relevant to the Chamber are likely to be County Durham and North Yorkshire. The paper stresses that any move from County Councils to Mayors (Governors, Sheriffs, Head Honchos, Grand High Poobahs?) would be voluntary, however, it is likely that large funding packages would follow any devolution agreement, so there would be a significant financial carrot in going down the devolved route.

 

Which brings us on to funding. Critics of the White Paper have tended to focus on the funding which is not there and whether any money promised is new. That is probably an analysis for another blog. However, what we have got in the White Paper is a first look at any real detail on how the Shared Prosperity Fund (SPF) may be distributed. For those of you who have shied away from the dark arts of funding (and who could blame you), the SPF is the pot of money which will come from central Government to replace the EU funding lost as part of the Brexit process. In initial post referendum pledges on this fund said that it would match EU funds pound for pound. Whilst this paper gives very little detail on actual levels of funding, what it does suggest is that control of those funds will be devolved to MCAs.  This is a huge step forward and something the Chamber has been looking for from Government as it allows the tailoring of funding to local issues and solutions and ends the one size fits all approach.

There is some more disappointing news on funding though. Where funding pots are mentioned, it seems Whitehall is not yet ready to let go as it is clear we will still have the bidding beauty contests where areas of need are pitted against one another in a one size fits all criteria approach.  This is great news for the cottage industry of consultation which has grown up around bidding applications but is perhaps less good news for Local Authorities and the private sector who must spend precious time and resources endlessly pitching for funds. It is inefficient and rarely solves the problems the funding is earmarked for.

In truth, the mechanisms of Local Government are the parts of the white paper least likely to excite the electorate but wiring and the frameworks to deliver change are important and devolution is central to that.

 

Rachel Anderson

Assistant Director of Policy

@NEEChamberRache

 

Photo by Toa Heftiba on Unsplash

Autumn Budget 2021 briefing

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The Chancellor delivered his Budget and Spending Review today, which included some announcements for the North East as part of spending on transport in city regions, from the Levelling Up Fund, the Community Ownership Fund, and an investment from the UK Infrastructure Bank in Teesside. 

The Treasury has summarised these announcements in a set of regional fact sheets here. 

Our initial comment from our policy director Jonathan Walker is here: “The Budget had some welcome announcements for North East businesses but our wait for a long-term levelling up strategy goes on.” 

But how did Rishi Sunak’s announcements compare to the priorities we outlined for the region in our submission to him last month? 

We said that this Budget and Spending Review must… 

  • provide a clear, bold definition of levelling up 
  • fund departments and public bodies in a way that makes them responsible and accountable for levelling up  
  • advance the cause of decentralisation and devolution 

There were a number of announcements in the Budget either made from the Levelling Up Fund or under the wider auspices of ‘levelling up’. These include regeneration projects in Newcastle, Sunderland and Teesside. However, the long-awaited White Paper on levelling up is yet to be published, while other related strategies such as the Integrated Rail Plan have also been much delayed. 

The projects announced today are all extremely welcome and will make a difference to their local communities. However, the fact that they are being awarded from a central funding pot after a national competition speaks to the centralised nature of the country. Without a greater commitment to long-term devolved funding settlements we are unlikely to see much progress in levelling up. 

  • provide support for exporters 

There was a £67.6 million budget increase for the Department for International Trade (DIT) over the Parliament to maintain capacity to secure trade agreements and support exporters.  

An announcement of £180 million to build a UK ‘Single Trade Window’ which aims to reduce the cost of trade by streamlining trader interactions with border agencies.  

Funding for EU-focused Export Support Service from DIT as part of Export Strategy to be published shortly. 

£838 million over three years to 2024-25 to complete delivery of Customs Declaration Service (CDS).  

£107 million next year for the Trader Support Service (TSS) which helps traders move goods to Northern Ireland.  

  • establish the UK Shared Prosperity Fund based on regional economic need 

The first announcement was made from the Shared Prosperity Fund, which will distribute £2.6bn over the next three years, including through the £560m ‘Multiply’ scheme which is aimed at adult numeracy. The Treasury suggests regions such as the North East, where adult numeracy levels are lower, will benefit most from this. 

The schemes so far are national in focus, and don’t reflect the structure of EU funds, which were distributed direct to regions based on need. 

  • deliver on aspirations for broadband investment 

The Government in the Budget confirmed its target to invest £5 billion in to support the rollout of gigabit capable broadband in across the whole of the UK.  

The Government will also provide £180 million over the next three years as part of its £500 million investment in the Shared Rural Network, to deliver 4G mobile coverage to 95% of the UK 

There weren’t any particularly new announcements around broadband but we welcome the Government committing to targets to improve digital connectivity. We now need to see this investment take place to improve connectivity for the region.  

  • properly fund rail investment across the North, including the eastern leg of HS2 

There has been welcome investment confirmed in the Budget for improving local rail links in Teesside including redevelopment schemes for Darlington and Middlesbrough stations. We are still waiting for the Government’s integrated rail plan to set out plans for investment around HS2 and Northern Powerhouse Rail.  

  • ensure the long-term success of regional airports 

We welcome the Government extending the Airport and Ground Operations Support Scheme (AGOSS) for a further six months to help airports as they recover from Covid travel restrictions. 

The Budget also announced a 50% cut in domestic APD and a new ultra-long-haul distance band.  

  • incentivise investment in low-carbon housing and retrofitting 

The Government set out plans to invest £450 million in growing the heat pump market and reduce costs by 25-30% by 2025 to allow the technology to be rolled out across the UK.  

The Government is also providing business rates exemptions and relief in England to support the decarbonisation of non-domestic buildings.  

  • support arts and culture as a means of regenerating communities 

The arts and culture sector will benefit from 50% business rates relief for retail, hospitality and leisure sector businesses, as well as specific Covid recover funding of £52m next year. There is also tax relief for museums, galleries, theatres, orchestras and film and TV projects. 

  • properly fund and support our further and higher education sectors 

Adult skills 

Skills funding will increase by £3.8 billion compared to 2019/20. This funding will quadruple places at skills bootcamps, expand the Level 3 qualifications on offer to adults and fund the newly announced Multiply scheme, which will equip adults with basic numeracy skills. The £560 million investment in the Multiply scheme will benefit the North East disproportionately due to the region’s lower-than-average numeracy levels.  

Schools and colleges 

The Budget outlined a £1.6 billion increase to 16-19 education funding over three years which will help maintain funding rates and expand the rollout of T Levels. Rishi Sunak also outlined a £4.7 billion boost for schools budgets by 2024-2025, amounting to a cash increase per-child of £1500. Also announced was £2.6 billion of funding to be spent on creating new school places for children with special needs and disabilities. Whilst these investments are a step in the right direction, it is unlikely they will counter the record cuts which schools and colleges have faced since 2010.  

The Chancellor also announced additional funding for the schools recovery fund of £1.8 billion, aimed at supporting schools. The total investment of £ 5 billion is still much lower than the £15 billion Sir Kevan Collins, the Government’s former catch up advisor, argued was necessary to support young people to catch up on lost learning.  

Universities 

The Government’s increase in public investment in Research and Development (R&D) to £20 billion will provide a funding increase for the UK’s universities and research institutions of £1.1 billion per year more by 2024-25 compared to 2021-22.  

  • increase funding flexibility to encourage employer investment in training 

There were no significant announcements which would enable this additional flexibility. We considered this an important change to make to enable businesses to engage with a broader range of spending under Apprenticeship Levy rules and adjust how the scheme worked to fit the needs of modern employers. 

  • recognise the damaging economic impact of welfare cuts in our region 

The Budget announced a reduction in the taper rate that applies in Universal Credit from 63% to 55% by 1 December 2021. This is welcome as it will help people working on Universal Credit and keep more money within the region, however those not in work will not feel the benefit.  

  • put in place the necessary business support measures to reduce the impact of future Covid restrictions, including a limited reintroduction of the Job Retention Scheme 

The Government announced business rates relief of 50% for retail, hospitality and leisure sectors in 2022-23. Eligible properties will receive 50% relief, up to a £110,000 per business cap.  

This is positive for businesses in these sectors, however other sectors won’t benefit.  

There was no mention of wider Covid business support packages, or how these might be reintroduced should restrictions return. 

Useful Link

The full Budget document are available here.

Photo by Marcin Nowak on Unsplash

Business Funding and Support Providers

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The business support landscape can sometimes be confusing to navigate, but there is something available in the North East for most businesses, and for most purposes.

Below are some of the most prominent business funding and support providers in the region, but this is not an exhaustive list and we’d always recommend speaking to your Chamber Relationship Manager for more advice on what’s out there and what might be right for you.

If you are a funding or support provider and are not listed below, feel free to get in touch with details of what you offer.

The North East Growth Hub
The Growth Hub all about supporting businesses to help them start, grow and thrive, to deliver more and better jobs for the North East.   Our experienced team of Growth Hub Connectors, provide 121 advice and guidance to businesses, signposting to the business support and access to finance available in the region – you can book an appointment here.

Businesses can also visit the North East Growth Hub website to take a look at the directory of support available to them and be inspired by business growth stories and advice from across our region.

If you’d like to keep up to date with the North East Growth Hub, please sign up to the newsletter here. (just scroll to the bottom of the page)

The North East Growth hub is also looking for businesses to take part in its Peer Network programme. By joining a Peer Network you get the opportunity to talk to other business leaders who are I probably in the same position as you – going through the same challenges and looking for solutions to help their business continue to grow. We are currently recruiting for businesses to take part in cohorts and would love to hear from you if you are interested in taking part. To find out more, please visit the North East Growth Hub here.  
www.northeastgrowthhub.co.uk
 
Digital Catapult North East & Tees Valley / Sunderland Software City
Our business support service drives technological growth among digital and non-digital businesses in the North East of England.

Our business support program provides 12 hours of fully funded specialist support to digital and non-digital businesses across the North East LEP area (Durham, Tyne and Wear and Northumberland).

We work with trusted specialists to deliver tailored business support in one of three areas:
– Innovation Roadmapping Grow your business by gaining a better understanding of how to bring your product or service to a new market. Working with experienced marketing strategists, you’ll receive one-to-one consultancy alongside a high-level innovation road-mapping strategy tailored to your business.
– Market Intelligence: Validate the demand for your product or service. From running focus groups for discussion around pricing and product usage, to producing desk-based market research analyses, our Market Intelligence specialists will conduct the research for you to help you get under the skin of potential customers and deepen your market sector knowledge.
– Technical Specifications:  Understand the functionality required to build your platform and associated costs.

Whether you’re looking to develop an app, an e-commerce site, or a new CRM system, our tech partners will help you develop a Technical Specification that outlines the functionality you need get your platform or Minimum Viable Product developed.  
www.digicatapult.org.uk/regional-centres/netv | www.sunderlandsoftwarecity.com

Teesside University Digital City
The Teesside University-led initiative, DigitalCity supports the digital growth and transformation of businesses across the Tees Valley. Since starting out in 2001, the *ERDF-funded initiative has helped hundreds of digital and creative businesses in the local region by:
– Accelerating the growth of digital start-ups
– Supporting digital SMEs with scaling up
– Helping tech businesses to achieve digital maturity
– Assisting traditional companies with the adoption of technology
– Connecting creative industries with the expertise to innovate and grow

Through interactive programmes, bespoke mentoring, expert-led workshops and consultancy projects, DigitalCity equips people and businesses with the knowledge, skills and expertise they need to thrive in the ever-expanding digital world that we live in today.

Take a look at the below support options for your small business:
Accelerator Programme – Designed for early-stage tech companies that have been trading for up to 18 months and are in the process of launching or planning to launch new-to-market products and services. Taking place over an eight-week period, the Accelerator programme includes industry expert-led workshops, one to one mentoring and access to a business development grant of up to £5000.
SCALE Programme – Designed for digital business leaders in the Tees Valley that are looking to grow. With an overall focus on the five key pillars of scaling, the programme consists of action-focused workshops, inspirational guest speakers and the opportunity to learn from like-minded peers that are facing the same business challenges.
Digital business support – Fully funded consultancy advice, bespoke assist programmes and market intelligence services to help tech businesses in the Tees Valley to deploy digital solutions that help the development of their business, as well as tapping into new markets and launching new products.
Wider sector support – Tailored digital assist programmes and masterclasses to help businesses from the wider-sectors to improve the way they operate by embedding digital technology.
Creative Fuse Tees Valley – Through academic support, one-to-one mentoring and collaboration and knowledge exchange events, Creative Fuse Tees Valley helps businesses and freelancers in the creative, culture, digital and heritage industries to innovate and grow.

DigitalCity support is available to businesses located in the Tees Valley region only (including Middlesbrough, Stockton, Redcar and Cleveland, Darlington and Hartlepool). For more information, please visit: www.thedigitalcity.com

*ERDF – DigitalCity is receiving is £1,927,803.96 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2019-2023.  
thedigitalcity.com
 
NEL Fund Managers
NEL Fund Managers is an employee-owned fund management company. We’re committed to strengthening our local economy by providing tailored funding solutions and offering fully funded business support to enable the growth of SMEs across Durham, Northumberland and Tyne & Wear.

We’ve helped hundreds of local businesses achieve sustainable success over the years, and we’re actively looking to support even more strong management teams with robust plans for the future.

Our current Funds:
North East Small Loan Fund (Supported by the European Regional Development Fund) The Fund has been designed to provide the finance needed for small, actively trading, North East businesses to get to the next level. Loans are unsecured and we so not ask for directors guarantees. They typically range from £10,000 to £50,000, however in response to the impact of Covid-19 pandemic we have temporarily increased the Fund’s upper lending limit to £100,000.
North East Growth Capital Fund (Supported by the European Regional Development Fund) The Fund backs ambitious businesses with unsecured loans, mezzanine and equity investments of up to £500,000. The fund enables businesses to accelerate their growth potential and can form part of a larger funding round where required.

To find out more about our Funds and business support packages, please visit www.nel.co.uk or call us on 0345 369 7007.  
www.nel.co.uk
 
Darlington Credit Union
Darlington Credit Union can help your employees’ better manage their finances and relieve their money worries. We are a not-for-profit organisation rooted in our community and already work with a number of employers in Darlington, large and small. With employees suffering less financial stress your business has the chance to perform at its best.

What can we do for you?

Transform financial wellbeing in the workplace by:
– Payroll Savings & Loan scheme
– DCU is a not-for-profit co-operative offering instant access savings and affordable loans direct from your employees pay a valuable employee benefit offered completely free of charge to employers. Furthermore, there are no joining fees for individuals
– Minimal administration is involved. This requires just one BACS transfer per month for the total deductions to the credit union account and setting up the deductions from salary. Easy.
– All services are provided directly by DCU and we accept individual and corporate liability for the operation of the scheme.
– DCU is fully regulated by the FCA and the PRA, who are also responsible for banks and building societies. These regulators require rigorous financial systems, fully trained staff and internal/external audit system
– Individual members are also covered by the Financial Services Compensation Scheme (FSCS) for all savings up to £85,000
– Because loan repayments are made via salary deductions, the risk of an employee defaulting is reduced, enabling lower interest rates for member’s loans.
– If an employee leaves, we will work with them to set up a standing order to replace the former payroll deduction payment. This enables them to remain a member of DCU
– This is a proven model that DCU has operated successfully for the last 12 years and we currently have 11 payroll schemes, including two of the large local health trusts, with hundreds of employees benefiting
– DCU’s primary aim is to promote financial resilience by encouraging members to save. Over time the member can build up sufficient savings to end the cycle of borrowing. However, if members do require a loan we offer an affordable alternative to high street bank loans and other forms of consumer credit.
– Our unique Moneysmart service tailored to the needs of your employees  
– Money management skills and debt guidance either as a workshop, group sessions or 1:1
– We have, during 2020, created a new website https://www.money-smart.uk/ which allows individuals and organisations to access a learning environment based upon money management skills
– Dedicated helpline for individuals to discuss any financial issues with complete privacy and discretion
– Banking services
– We provide a whole range of in branch and online banking services for local businesses through our corporate accounts.
– We offer a great service for small businesses who need lots of change to keep things running smoothly.
– A 0% interest loan scheme for customers of local retailers has been developed with a local shop and we are keen to explore extending this.  
www.darlingtoncreditunion.co.uk / [email protected] – Tony Brockley, CEO
NBSL – North East Business Support Fund
NBSL are keen to help businesses across the North East with its popular North East Business Support Fund.

The current Grant Fund has now been extended to March 2023 and £1.6m has been secured in further investment from the European Regional Development Fund (ERDF) to support 730 businesses across Northumberland, Tyne & Wear and Durham.

County Durham businesses can access up to 40% of Grant Funding for projects costing between £2,500 and £8,000 with Northumberland and Tyne & Wear businesses accessing up to 35% for projects costing between £3,000 and £8,000.

The programme offers Grants for business improvement projects that use external expertise to support projects including
– Business growth planning & strategy development
– Covid recovery planning
– Business expansion/succession planning & financial restructuring
– HR Planning and strategy
– Process improvement, change management or quality management system development
– Product development/diversification/New market development
– Marketing strategy and planning
– Web design/development
– Design costs for marketing or video productions/animation development

ERDF eligibility criteria applies.  Further details of how we can help your business – please click here: www.nbsl.org.uk/nebsf 

* Please note, as this is an extension, NBSL are unable to provide funding to businesses who have already accessed support from the programme – including businesses who have received a full Grant from the North East Business Support Fund between February 2018 and December 2020.

OTHER SUPPORT AVAILABLE: BETTER BUSINESS SKILLS  – a fully funded business skills programme, Better Business Skills, in partnership with the North of Tyne Combined Authority, provides a tailored plan for individuals and businesses that need guidance and support to re-invigorate and refresh their business skills.

The initiative – aimed at residents and businesses living and working in Newcastle Upon Tyne, North Tyneside and Northumberland – has been developed in response to the challenging economic landscape currently faced by businesses.  Sessions on sales, customer experience and understanding the customer journey are available alongside operational improvement sessions including process improvement, change and leadership/management skills.

Fully funded and easy to register: www.nbsl.org..uk/better-business-skills    
www.nbsl.org.uk/nebsf/northumberland/grants / www.nbsl.org.uk/nebsf/county-durham / www.nbsl.org.uk/nebsf/tyne-wear
North East Business & Innovation Centre
A not for profit enterprise agency the BIC puts its heart into supporting new and established businesses in the North East region. A bustling business community the BIC is dedicated to building successful and innovative businesses, Offering support to SMEs as well as providing superb facilities for them to call home.

We have 25 years’ experience of helping entrepreneurs just like you.

Our dedicated Start Up service is designed to get you properly prepared to launch your own business.

Innovation Programme https://www.ne-bic.co.uk/supporting-innovation/innovation-programme/

The SME Innovation Programme is designed to help SME’s realise their innovative possibilities. Supporting a wide range of sectors, the friendly team at the BIC provide expert help and guidance by taking you through the grant process to structure an innovation project and creating an essential competitive edge with growth potential.

We do this by offering:
– Independent advice and guidance
– Access to industry experts and suppliers
– Up to 40% Project Funding Links to other support agencies

Eligibility SME’s must be North East-based (Northumberland, Tyne & Wear and Durham-based only) and investment ready.

So whether you are looking to be innovative with your products, your services or your business processes our team of internal and external advisers may enable you to take your ideas forward.    
www.ne-bic.co.uk
 
Northstar Ventures
Northstar Ventures has been supporting entrepreneurs since 2004. We look for strong teams with great ideas – ideas that will drive high growth, scalable businesses. As one of the leading early stage investors into UK businesses, we make and manage investments into a wide range of ventures. Our experienced team works closely with companies in our portfolio, to offer advice and support as well as capital.

At Northstar we understand the many challenges involved in setting up and growing a business – especially when you are trying to shake up your industry. That’s why we see our role, as an investor, as being about so much more than money. When we invest, we are beginning a partnership that we hope will last for years.

We’re looking for:
– ambitious entrepreneurs market-focused business ideas
– deep sector knowledge
– global vision and ambition
– scalable businesses.

We also deliver, in partnership with Business Doctors, a series of free business support packages that have been developed and adapted to specifically support local businesses, online and face to face.

Our latest iteration is the Business Growth Roadmap workshop. This aims to help those businesses who are now looking ahead, to help them develop a specific plan to deal with future growth and taking into account issues that they now face which may well be different to those 12 months ago.

North East Innovation Fund
The £27 million Innovation Fund, supported by the European Regional Development Fund, is focussed on backing scalable, innovative businesses throughout County Durham, Tyne & Wear and Northumberland.

The Fund can back pre-start or existing businesses with direct venture capital investments of between £50,000 and £500,000.

We’re looking for innovative founders, strong teams and scalable ideas, and we’re open to all sectors.  

Innovation can be many things and we don’t want to miss any opportunities, but essentially we’re looking for something that’s different in some way. It could be that you’re developing a brand new product, or you may want to launch into a new market, or you are improving on an existing service. But if you feel what you’re doing is innovative in any way we’re interested.  
www.northstarventures.co.uk
 
FW Capital
FW Capital invests in established SMEs across the North East. We manage three funds providing loans to help businesses achieve their growth plans. Our experienced team of investors have a track record of supporting businesses and we work closely with advisers and businesses to ensure the right funding package is provided.

Debt finance from the Northern Powerhouse Investment Fund (NPIF) provides loans from £100,000 to £750,000 to help businesses grow. Funding might be used for hiring staff, purchasing machinery, moving premises or even as working capital to finance a big order. NPIF Finance is available to businesses are based in the Tees Valley.

Loans from the Tees Valley Catalyst Fund, managed on behalf of the Tees Valley Combined Authority, help ambitious businesses across the North East (not limited to Tees Valley) bid for new contracts by providing short-term debt investments from £100,000 to £2 million to fund short-term advanced payment guarantees, performance and warranty bonds or extend existing bond facilities.  

The North East Property Fund offers short term loans for small and medium-sized construction and property development companies. Loans from £250,000 up to £1million are available for residential and non-speculative commercial developments in Tyne & Wear, Northumberland, and County Durham.  
www.fwcapital.co.uk
 
Business Northumberland
Business Northumberland works with you and your business to help you begin, continue and advance with your business online!  

Working with industry experts to support micro, small and medium enterprises across the North East to help businesses build and sustain a successful online presence.  

A team of specialists with knowledge to give you the power to build a digital marketing strategies, use social media, sell your products online, climb the ranks of google with Search Engine Optimisation (SEO) and not forgetting the importance of utilising Microsoft Office packages including; Excel Support, Outlook support and Office 365.  

As well Business Northumberland’s digitally focused workshops, they also offer a wider scope of services:
– Expert one to one business advice and support
– Networking events across Northumberland
– Online learning through an interactive portal
– Guidance on available funding and support writing funding applications
– Online learning through an interactive portal
– Growth business coaching and consulting

Working closely with a team of specialists that work to help small to medium sized businesses across the North East grow and reach their full online potential.  

Get in touch today to find out how Business Northumberland can support your business:    
www.businessnorthumberland.co.uk
 

Photo by Riccardo Annandale on Unsplash