Further to the publication of the North East Local Enterprise Partnership’s (NELEP) second annual ‘Our Economy’ report, the £120m regional investment programme, North East Fund, is encouraging SMEs to attend its next funding support event being held in County Durham.
With historically lower levels of new, regional business start-up activity being highlighted in the report – 44 new businesses per 100,000 people being created in the North East compared to 65 in the rest of the country – SME owners looking for investment to help growth, create jobs and develop innovative products and services, are being invited to the Novus Centre, Peterlee on Thursday 30 May 2019 (9:30am registration for 10am start).
The breakfast event, run in conjunction with Business Durham, Department for International Trade and Digital Drive Programme, is open to companies across all sectors. It will allow owners to meet with North East Fund representatives, engage in discussion relating to access to finance as well as obtain the correct advice in how make their company ‘investor-ready’ through tailored support.
Jason Hobbs, CEO of the North East Fund commented, “The recent report outlined how, despite closing the gap with other areas of the country in terms of the regional economy, there is still more to be done in relation to business growth, skills and the rate of innovation here in the North East. Access to finance when it is needed is essential for any developing or start-up business, therefore events like the one being held in Peterlee provide an excellent opportunity for owners to obtain the right advice and find out more about funding that is currently available.
“More than 100 SMEs have already benefited from the North East Fund over the past year, receiving over £17m of investment. 20% of the total £120m North East Fund is allocated to County Durham-based businesses so the event could really help ambitious companies to realise their growth potential. We’re having a very positive impact on the North East economy, but there is more to be done.”
The North East Fund is managed by The North East Fund Limited and delivered through four specialist fund management organisations; Maven Capital Partners, NEL Fund Managers, Northstar Ventures and Mercia Fund Management.
Attendees will be able to consider the benefits of investment for growth, obtain details of the five separate funds and network with other organisations who are considering the investment route to achieve success.