Small businesses have been urged to apply for funds to the North of Tyne Combined Authority.
The North of Tyne Growth Fund is designed to support SMEs in Northumberland, North Tyneside and Newcastle to create employment and stimulate business growth.
It is assisted by the North of Tyne Growth Fund Panel, which sees local business experts meet regularly to ensure financial support goes where it will best help the people and businesses of the area.
Growth Fund panel member and founder of award-winning North Tyneside business Bumble and Bloom Media Chloe Hall said: “For me, it’s been fantastic over these hard months of lockdown to see all is not lost; there are still fantastic businesses in the North of Tyne doing amazing things. I can’t wait to see what comes next.
“The Growth Fund Panel exists to retain and promote talent in the area.
“It’s about people, it’s about jobs, and it’s not just about any job, it’s about great quality jobs
“It’s about good wages, it’s about business growth, it’s about innovation, but above all, it’s about the people and the community.”
North of Tyne Cabinet Member for Economic Growth and Deputy Mayor of North Tyneside Council Cllr Bruce Pickard said: “Now is the time to support businesses in the North of Tyne.
“The business and local knowledge of our private sector panel members will allow us to best allocate the funds throughout our communities.
“Through collaboration, the Growth Fund Panel has been able to award funding and support to our SMEs, which will improve our economy, employment and long-term growth.”
The North of Tyne Growth Fund Panel of public and private sector professionals was assembled to review applications and award funds to small and medium-sized enterprises (SMEs) based in the region.
The Growth Fund £4.6m programme of investment part-funded by the European Regional Development Fund (ERDF), that supports SME growth across Northumberland, North Tyneside and Newcastle local authorities.
The fund will also leverage £10.5m of private sector investment. This project is part funded by the European Regional Development Programme 2014-2020.
How to apply
Grants are available through our delivery partner UMi: https://www.northoftynegrowthfund.co.uk/
About the European Regional Development Fund
The project has received £4,640,938 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020.
The Ministry of Housing, Communities and Local Government (and in London the intermediate body Greater London Authority) is the Managing Authority for European Regional Development Fund.
Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations.
For more information visit https://www.gov.uk/european-growth-funding