For ambitious businesses in County Durham, lack of access to funding can be a major barrier to turning business plans into reality.
You may have bold ideas to develop new products, expand operations, or enter fresh markets – but bringing these initiatives to life requires capital investment.
As Durham County Council’s business support service, Business Durham can connect local businesses with a range of public and private funding streams tailored to your strategic growth goals.
Read on to learn more about the types of funding we provide access to and how it can help catalyse success for your County Durham business.
Funding to Turn Plans into Reality
With the right funding injection, businesses have the power to transform and grow in exciting new directions.
However navigating the complex funding landscape on your own can be difficult, and partnering with the wrong investors can negatively impact control and equity in your business.
Business Durham serves as an expert guide, opening doors to funding opportunities that align with your objectives and structure – whether you require:
- Startup capital to get your new venture up and running.
- Investment to scale up operations, production and workforce.
- Loans to purchase new equipment, machinery or facilities.
- Grants to support productivity and growth, R&D, adopting new technologies or entering new markets.
- Cash flow assistance to help stabilise and grow.
With established connections across the public and private funding community, we help businesses access finance without the hassle. Our advisers take the time to understand your funding needs and match you with the right capital to turn your plans into reality.
Types of Funding Available
Business Durham can advise and connect businesses with a diverse range of opportunities, including:
For initiatives such as productivity and growth, R & D, adopting clean technologies, developing new products or services, and exploring new market opportunities, grant funding covers a proportion of the costs. We connect businesses with grants from sources like the Durham Business Growth Programme, Made Smarter, Innovate UK, UK Research and Innovation and much more. Funding ranges from thousands to millions based on the project scope.
Affordable loan financing provides accessible capital to purchase equipment, expand facilities, bridge cash flow gaps, and more without diluting equity. We facilitate access to loan options like the Northern Powerhouse Investment Fund and other business-friendly lending streams.
For scaling companies ready to accelerate growth, our connections with angel investors, venture capital firms, and private equity firms provide access to substantial capital infusion in exchange for equity stakes. Investment levels stretch into the millions for enterprises with high-growth prospects across tech, life sciences, advanced manufacturing, and other sectors.
For tech-driven businesses engaged in R&D and innovation, we open doors to resources like the Innovation SuperNetwork providing access to research partners, facilities, and funding. These connections help translate ideas into realities. We also connect innovators with events like Venturefest Northeast.
Property and Infrastructure
As your company grows, lack of suitable workspaces and infrastructure can inhibit productivity and innovation. We help businesses access capital from funds to invest in the right spaces, facilities and equipment. In addition to funding, our advisers provide support on business planning, financial modelling, and investor pitch preparation to set your enterprise up for funding success.
Key Funding Criteria
While wide-ranging funding is available, most programmes look for certain criteria when evaluating businesses for support, including:
- Strong management team with industry experience.
- Innovative products, services or processes.
- Clear potential for high growth and job creation.
- Definable route to commercialisation.
- Cohesive financial planning and projections.
- Potential to increase productivity and economic impact.
- Ability to repay debt (for loans).
Essentially, funders want to see that your business has solid leadership, a compelling plan, and potential for growth and financial sustainability. Our advisors help businesses understand requirements and present a strong case.
Unlocking Funding for Your Business Goals
If your SME seeks capital to unlock your next stage of growth, Business Durham can help. Our proven funding expertise and connections can open doors that provide your company with the investment necessary to:
- Develop groundbreaking new products or services.
- Adapt to fast-changing markets.
- Adopt productivity-enhancing technologies.
- Expand production capabilities and capacity.
- Enter new export markets across the UK and globally.
- Create more high-quality jobs across County Durham.
Current Funding Opportunities For County Durham Businesses
The Durham Business Growth Programme
This comprehensive 2-year initiative running until March 2025 aims to cultivate an environment where businesses can thrive, create quality jobs, and contribute to an inclusive, green economy. It provides a strategic framework and support for companies seeking to elevate productivity and foster sustainable growth in the county.
With £20 million available, Finance Durham offers flexible investment and loans from £150,000 to £2 million. This fund enables early stage and established businesses across all sectors to finance their growth plans. Equity, debt, and mezzanine funding packages are tailored to your specific needs.
Tel: 0191 731 8595
In short, funding provides rocket fuel for SMEs with the vision and drive to implement growth strategies and make a lasting economic impact.
To explore funding options tailored to your business, contact our team today to start a conversation. Together, we can determine the types and levels of capital investment that can help turn your plans into transformative realities.