The North East Fund, a £120m investment programme supporting SME business growth, is urging South Tyneside-based owner-managers, sole traders and entrepreneurs, especially smaller companies from local industrial estates, to attend a free workshop aimed at providing better access to funding and investment.
The free drop-in event, with RTC North’s Alisa Anderson and the North East Fund’s James Holloway, is being held at One Trinity Gardens, South Shields, from 9am-2pm on Friday 08 November 2019.
It will provide attendees with advice and information on how to become ‘investor-ready’ if requiring assistance to expand, develop products, purchase new equipment, upskill staff or create new jobs through investment.
Those from start-up, family-run businesses or smaller enterprises, possibly located at Simonside, Bede, Cleadon Lane, Rekendyke, Middlefields or Tyne Point industrial estates rather than modern business parks, or who operate in more ‘traditional’ trade or supply chain industries and who think that they are not big or high profile enough to be awarded funding, are being encouraged to attend.
James Holloway of the North East Fund explained, “More than £1m has now been allocated to South Tyneside-based companies by the North East Fund. However, a big misconception by business owners is that they need to be large operationally, with high turnover or at the forefront of their industry producing world-class, innovative products to receive funding. This is simply not the case.
“Whilst new developments like the International Advanced Manufacturing Park may help to attract new manufacturing and automotive companies to the area going forward, South Tyneside has always been home to thousands of smaller but very successful SMEs, and it is these companies, many operating from individual industrial units, that are often overlooked but need help to grow.
“For the regional economy, they are our industrial backbone, but locally, they also provide much needed employment and new jobs creation within their community, albeit on a smaller scale. From tool cutting, engineering and metal fabrication, vehicle repair and garage services, printers and signage makers, to plumbers, electricians or professional service consultancies, they are just as important so it is essential that we support their ambitions too by providing straight-forward access to funding.
“Events like this provide an excellent opportunity for business owners from all sectors to drop by on a very informal basis, so we’re hopeful that many South Tyneside SMEs will attend.”
The North East Fund, supported by the European Regional Development Fund, includes five separate funds delivered through four specialist fund management organisations; Maven Capital Partners, NEL Fund Managers, Northstar Ventures and Mercia Fund Management. Business Northumberland is part-funded by the European Regional Development Fund and Advance Northumberland.
No registration is necessary for the event and business owners are advised to attend between 9am-2pm (Friday 08 November 2019).