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North East businesses to benefit from funding extension

Hundreds of North East businesses are set to benefit after a fund set up to support business growth projects was extended this week.

The North East Business Support Fund (NEBSF), which is part-financed by the European Regional Development Fund, has been extended to June next year.

The fund has already helped almost 2,000 businesses across the North East, offering support with the costs of projects designed to spur on their growth.

To date, NEBSF has paid out £1.4million, to support a range of projects from expansion planning and product development to web design and marketing strategy development.

The fund is managed by NBSL, a North East enterprise agency, and provides up to 40 per cent of funding for a project, up to a maximum of £1,400.

John King, North East business support manager, said that the extension of the NEBSF funding to June 2015 will allow several hundred more SMEs in the region to access support that will help them develop and realise their expansion goals.

John said: “It’s been fantastic for us to help so many businesses across the region to access this funding and see them grow as a result. We are delighted that more businesses in the North East will have the chance to gain access to support that will unlock their potential.

“We support businesses of all types and make sure that accessing the funding is easy and hassle-free. The extension is great news and we are really looking forward working with even more businesses to help them succeed.”

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