Member Article

Businesses pursuing paths into financial support for growth

Dozens of businesses from County Durham’s engineering and manufacturing sectors are looking into funding programmes which could help them grow.

County Durham Engineering and Manufacturing Network (CDEMN) identified the need to develop an event aimed at the sector which provided an open and honest review of the ways a business can fund their activities starting with a robust review of their own finances.

The event, hosted by New College Durham and organised by CDEMN, brought together a number of different organisations to help attendees understand how they can optimise their own capital and cash flow to enhance the business.

This included financial experts including Santander who talked about how your bank can help your business grow, and our affiliate Tait Walker who focussed on tax credits, capital allowance, working capital and grants.

Other areas that were covered included the Durham Fund and Venture Capital by Mavern Capital, along with a review of the apprentice levy and ESF funding by New College Durham.

Ben Gilhespy, operations director at CDEMN, said: “Our funding event was a real eye opener for those businesses in attendance who in many cases thought access to funding support was almost impossible.

“Attendees came away with a clear idea of where help is available into which businesses could potentially tap to help them grow, and from conversations I’ve had subsequently, it’s likely that many will actually go on to make applications through one or more of the organisations in attendance. Numerous links had been made on the day immediately following the event during a networking opportunity.

“The event was created to facilitate business growth, so if any companies in County Durham who weren’t able to attend would like more information on the packages and services available, please do get in touch and I’d be happy to help.”

This was posted in Bdaily's Members' News section by Leanne English .