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North East business growth fund wants applications before it runs out

Companies in the North East are being urged to take advantage of a business support programme before it runs out.

The North East Business Support Fund has helped nearly 5,000 SMEs over the last decade with grants totalling £9.1m that have de-risked investment projects. But the European-funded scheme comes to an end next March and administrators NBSL want to ensure the scheme makes the maximum impact in the region.

The fund offers grants of up to 35% towards growth projects in Tyne and Wear and 40% to County Durham SMEs for projects costing between £2,500 and £8,000. Schemes to help businesses grow are most likely to get approved and applications are being encouraged from business that have not accessed the fund before.

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