Supporting Local Business
UKSPF funding will be invested in activities to support businesses in the North of Tyne area to succeed and grow, through innovation and R&D, specialist advice and support, access to finance, and targeted support for businesses in key sectors, rural areas, and local communities.
A total of £18.3m UKSPF funding is available to invest in support for local businesses in the North of Tyne area up to March 2025, of which £13.8m is revenue and £4.5m is capital. The funding will support projects and activities in three programme areas.
Local business support activities will deliver the following UKSPF outputs and outcomes:
- Jobs created and safeguarded
- Businesses supported
- New businesses created
- Entrepreneurs are business ready
- Businesses increasing revenue / turnover
- Businesses active in R&D and / or adopting new products and technologies
- Businesses developing decarbonisation plans
- NTCA has allocated funding to the above programme areas on the basis that we want to ensure similar types of support continue to be available to local businesses up to March 2025, after the current European Union funding ends in June 2023.
- In addition to the planned UKSPF funded business support activities identified above NTCA is providing millions of pounds in additional funding, through the North of Tyne Investment Fund, for other local and regional business support programmes including: tourism and events; high streets recovery; rural stewardship and growth; digital sector growth and infrastructure development; digital adoption and 5G innovation; and cluster and market development in areas of global economic opportunity including ageing, offshore wind and net zero transition.
- This means that total investment in local business support in the North of Tyne area up to March 2025 will be significantly greater than the £18.3m available through UKSPF alone.
Approach to allocating UKSPF funding
The available UKSPF funding has been earmarked to support the following projects and activities in each Programme area, as described in the North of Tyne UKSPF Investment Plan approved by Government. For each project / activity, the approach to allocating the funding and the timescales for interested organisations to submit bids is shown.
In addition to the above, further commissioning of other UKSPF business support projects / activities may be undertaken in due course. Information will be posted on this page at the appropriate time.
Information for organisations interested in delivering UKSPF funded business support
- The main route for organisations interested in bidding to deliver the above projects is via the Dynamic Purchasing System (DPS) Business Support Provider Framework. For more information about how to register on the Framework, follow this link.
- Providers qualifying on the DPS Framework will be sent relevant opportunities to bid.
- Specifications for any of the above projects / activities to be commissioned outside the DPS will be published on this page in line with the timescales shown above.
- Updates about forthcoming opportunities will also be provided via NTCA’s social media channels.
If you have questions or comments about the information on this page, please contact email@example.com