How can the North East Business Support Fund help your SME?

With costs starting to spiral, it’s crucial that businesses use any opportunity to maintain efficiency and ensure growth plans remain on track.

NBSL are recommending that businesses take a look at the North East Business Support Fund to help towards the cost of projects that help to improve business efficiency or growth. 

The Fund operates in Northumberland, Tyne & Wear and Durham and with the programme due to close in March 2023, businesses are being encouraged to apply without delay to help any growth projects currently planned.

SMEs are being advised that time is now ticking to apply for grant funding that could be used towards the cost of a project that brings in almost any external expertise to help move the business forward – from marketing and web design specialists to financial or human resource consultants. 

The programme will continue to offer grants for business improvement projects that use External Expertise and the financial support will remain the same in its final year:

County Durham businesses can access up to 40% funding for projects costing between £2,500 and £8,000.

Northumberland or Tyne & Wear businesses can access up to 35% funding for projects costing between £3,000 and £8,000.

Funding will be proactively targeted at Business-to-Business organisations in the remaining months of the programme. Due to a limit on the number of Business-to-Consumer organisations that can be assisted and the high level of recent demand, only the strongest Business-to-Consumer applications will receive support. Please note that this Fund continues to be an extension to the North East Business Support Fund and therefore are unable to provide funding to businesses who have already accessed support from the programme – this includes:

  • Businesses who have received a Grant from the North East Business Support Fund since February 2018.
  • Businesses in Northumberland or Tyne and Wear who have received a Covid Response (SME restart and Recovery / Kick-starting Tourism) Grant.

With easy to understand eligibility criteria and a simple funding process, the online applications take less than 15 minutes to complete and your grant could be approved within 15 working days.