Accessing the right funding for your business can be a bit of a minefield. At Business Durham, we’re here to show you the best funding opportunities for your company.
Finance Durham is a £20m investment fund from Durham County Council and managed by Business Durham and administered by Maven Capital Partners which will help businesses in County Durham grow creating thousands of jobs.
The fund will make financial investments in local businesses based in the county supporting up to 70 companies in the county in its first ten years with investments ranging from £10,000 to hundreds of thousands of pounds.
Funding will range between £200,000 to £700,000, with ten per cent of the fund being smaller investments, between £10,000 and £40,000, for incubation businesses.
Businesses need to be based in County Durham or be relocating to the region when the investment is made.
The County Durham Growth Fund is for small or medium businesses planning a capital investment of at least £100,000, which will lead to the creation of additional employment.
If your business is looking to expand or establish new operations in County Durham the County Durham Growth Fund may be able to help. It is a European Regional Development Fund (ERDF) to support capital expenditure for County Durham businesses.
The fund is being delivered in partnership with Umi and if you are interested please contact one of their dedicated Advisers to check project eligibility and support you with your application.
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We have strong links with banks and financial intermediaries, and we’ve supported several companies to access venture capital and government grants, such as NBSL, Finance for Business North East, and rural funds such as Rural Business Growth Fund and the Strategic Economic Infrasture Fund.
The North East Growth Hub has a searchable database with over 70 funds.
Innovate UK and Horizon 2020 are specific funding sources for innovation and R&D.
There are often initiatives to support specific sectors, such as automotive, offshore, space, nuclear, and the process industry.
Business Durham can help you find the right scheme, contact us now.