North East Fund offers a leg-up to South Tyneside businesses to help area bounce back from covid

Representatives of the North East Fund hosting in-person meetings and drop-in sessions as many of the region’s small and medium-sized enterprises (SMEs) start to recover, look to expand, seek investment or reshape their business out of lockdown.

The fund can provide investment from £10,000 up to £2million, with £1.8million from its coffers already being invested in South Tyneside-based companies alone.

Organisers say the events, the first of which is being held on Friday, October 22, from 9am-1pm at One Trinity Green, South Shields, are an opportunity for South Tyneside business owners, some having launched new start-ups during lockdown, to obtain one-to-one advice on funding and the best support available as the economic recovery gains pace.

Other sessions, in conjunction with Invest South Tyneside, are being held at Jarrow Business Centre on November 5, South Shields Business Works on November 19, and Quadrus Business Centre on December 3.

James Holloway, external engagement officer at North East Fund, said investment from the organisation had helped businesses in South Tyneside secure almost £10million of additional funding.

"We therefore encourage all companies to get in touch, regardless of size or industry, to discuss the support and finance that is available,” he said.

“It’s fantastic that we can get out and about once again and meet people face to face, in person, from all different businesses and sectors.

“Whilst we’ve maintained constant contact with SMEs up and down the region over the last 18 months, many are now seeking new advice and support, often because their companies have changed, they’ve had to quickly adapt to new ways of working, they’ve taken advantage of unexpected opportunities or they’ve experienced huge growth.”

He added: “We’re looking to arrange as many different drop-in sessions as we can over the next few months, especially as there has also been a significant number of new start-ups launched during lockdown that need further guidance, or alternatively, investment. We’re here to discuss individual business requirements, regardless of sector, and provide access to the right funding where necessary.

"I’d advise anyone representing an SME and needing to chat about their plans to book a time slot with us.”

He said South Tyneside’s coastal location, infrastructure, skills base, transport links and recent developments at the International Advanced Manufacturing Park (IAMP), means many engineering, manufacturing, automotive, tourism, professional services, digital and supply chain operators, for example, could benefit from the events.

:: One-to-one time slots are available at One Trinity Green from 9am-1pm on Friday 22 October. Please email [email protected] to book.

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