Funding pot to support business growth showcased at Peterlee event

Feb 12, 2019 | Business

East Durham business owners looking for funding to help growth, create jobs and develop innovative products and services are being invited to an event that will help companies attract investment.

North East Fund, a £120m investment pot delivering significant funding opportunities to regional SMEs, and Innovation Supernetwork are hosting a breakfast networking event at Shotton Hall, Peterlee, on Wednesday 27 February from 9:30am (registration for 10am start).

Open to companies of all sizes across all sectors, it will allow business owners to meet with North East Fund managers, learn more about the Supernetwork’s FinanceCamp programme, and engage in discussion to find out how these opportuniities can make a real difference to making a business ‘investor-ready’ through tailored support.

Attendees will be able to consider the benefits of investment for growth, obtain details of the five separate fund categories available within the North East Fund and network with other organisations who have previously gone down the investment route to achieve success, including guest speaker Darren Race from County Durham-based company, Think Eleven.

Jason Hobbs of the North East Fund commented, “This is a great opportunity for local businesses, as well as those located in surrounding areas such as Seaham and Sunderland, to find out about investment opportunities to enable growth. More than 80 SMEs have already benefitted from funding over the last six months, and with 20% of the North East Fund allocated to County Durham, the event could really help Peterlee businesses to realise their ambitions.

“More than £120m of investment is accessible over the next five years with an anticipated 600 businesses across the North East benefitting. It could also mean the creation of approximately 3,500 jobs and a legacy of around £80m for further regional investment.”

The North East Fund is managed by North East Fund Limited (NEFL) and delivered through four specialist fund management organisations including Maven Capital Partners, NEL, Northstar Ventures and Mercia Capital Partners. It comprises of five separate funds that are available to SMEs across Durham, Gateshead, Sunderland, Northumberland, North Tyneside, South Tyneside and Newcastle local authorities.

Estelle Blanks, Executive Director of the Innovation SuperNetwork, added, “FinanceCamp centres on giving regional companies and entreprenuers the chance to come face-to-face with investment and loan opportunities, broadening access to funding for North East businesses with growth potential. Understanding the investor landscape is essential to ensuring companies are on the right path to achieve success, so we’re delighted to be working with the North East Fund to deliver this event in Peterlee.”

Companies can register their interest in the event taking place at Shotton Hall, Peterlee (Wednesday 27 February 2019) via Eventbrite: https://www.eventbrite.co.uk/e/access-to-finance-with-north-east-fund-peterlee-tickets-55399944726