Member Article

Investment for Growth: new fund for regional businesses

A new fund is bringing investment to businesses in the North East. Investment for Growth provides funding to companies planning to improve their business through investing in business development projects.

Funded by the European Regional Development Fund and delivered by the Investment Centre, the fund will provide grants of up to 40 per cent to eligible businesses.

The Investment for Growth fund will provide financial assistance for businesses investing in a wide range of business projects including product development and market diversification, expansion and change management, process and systems improvements, environmental and efficiency programmes and branding and marketing.

As well as creating or safeguarding jobs directly, the Investment for Growth programme will lead to a more active business landscape, and help create a more vibrant economic climate in the region.

Tracey Watson, Senior project manager said: “Every eligible business which gets in touch will be assigned a dedicated advisor who will work with them through the process. The team of advisors are incredibly experienced and well-placed to offer guidance and invaluable advice.

But of course every businesses needs are different and the advisers will give as much or as little support as is needed.

“The fund is here to help the region’s business community and we’ve already seen a lot of interest. It’s a real opportunity for the region’s businesses to access funding to help them grow.”

To be eligible your business must be based in the North East, have fewer than 250 employees, and a turnover of less than 50 million euros, and deliver a Business to Business product or service.

To access the Investment for Growth programme call 0191 426 6408 or visit www.investment4growth.co.uk

The project is benefitting from £4.99 million of investment from the European Regional Development Fund (ERDF), managed by the Department for Communities and Local Government.

The ERDF Competitiveness Programme 2007 – 2013 is bringing over £300m into the North East to support innovation, enterprise and business support across the region.

This was posted in Bdaily's Members' News section by Investment for Growth .