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Firms invited to share in £10m of funding
BUSINESS BOOST ... BE Group advisers Cheryl Blakey, John Heslop, Kate Ward, Chris Watson, Dianne Barkas, Paul Brown, Ian Coull, Andrew Frost and Colin Bunn.
A NEW £10m fund is available to boost businesses in South Tyneside.
The fund has created a flurry of interest among North East firms, with 40 applications in the first few weeks of its launch.
The Investment for Growth Fund is aimed at creating and safeguarding thousands of jobs and putting the North East at the very heart of the country’s economic recovery.
And one of the region’s most influential businesses, the Business & Enterprise Group (BE Group), will deliver the help needed to ensure firms take advantage of the offer – boosting their own prospects.
The fund will bring investment of about £10m into the economy, providing subsidies of 30 to 40 per cent to eligible North East firms to undertake projects that will create or safeguard jobs.
Alastair MacColl, chief executive of the BE Group, said: “This is a fantastic programme and one which we will really relish delivering. It will make a real difference.
“A team of business advisers will help to guide firms through the preparation, submission and follow-up of their applications.
“We will be able to see the concrete results both in economic and human terms. It’s about generating opportunity, jobs and growth – addressing key Government priorities.
“As a national business services group based in the North East, this new programme underlines our commitment to making this one of the best regions in Europe in which to grow a business.”
As well as creating or safeguarding jobs, uptake will also lead to a more active business landscape, spin-off jobs and a more vibrant economic climate.
Initial contact will be followed by one-to-one sessions with business advisers who will support eligible firms through the entire process, ensuring those projects most likely to result in growth receive an appropriate level of subsidy.
The programme, which will help new and established businesses, including social enterprises, starts immediately and runs until 2014. To apply for funds, call 426 6408 or e-mail enquiries@business-enterprise.net.
The project will benefit from £4.99m of investment from the European Regional Development Fund (ERDF), managed by the Department for Communities and Local Government.
The ERDF Competitiveness Programme 2007 to 2013 is bringing more than £300m into the North East to support innovation, enterprise and business aid across the region.
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