East Durham businesses encouraged to apply for their share of regional funding pot

Jul 4, 2021 | Business

With over 120 applications already received from clients in Durham keen to access the North East Business Support Fund, NBSL are expecting demand to be high for this popular Fund.

With funding available to support only circa. 240 businesses between now and 2023 across Durham, NBSL are urging businesses to identify projects that could help stabilise or support growth plans for the future and apply quickly.

NBSL operate the North East Business Support Fund (NEBS Fund) – part financed by the European Regional Development Fund (ERDF) and Northern Powerhouse – and are able to provide project-specific grants to growing businesses across County Durham. Funding could also be used on projects that could help recover and return to growth due to the impact of COVID-19.

John Atkinson, Business Funding Adviser for Durham, is recommending that businesses to talk to their service providers to ensure that their projects are making good use of the Durham element of the North East Business Support Fund whilst still available.

John said: “The idea, from the outset, was to provide small and medium sized businesses, not just with an easy to access funding to support project delivery, but I can also help them tap into a support network of experts in a variety of fields to make sure Durham businesses succeed.

“We’ve made the application process simple, easy to understand and quick – taking around 15 minutes to complete.  “If you’ve got an idea for a project, but you’re not sure if it’s something the programme can fund, you’re just a click away – I can call and talk you through the very simple application and funding process.”

NBSL relaunched The North East Business Support Fund (NEBSF) in 2018, focusing on funding County Durham businesses.  The inaugural round of funding was launched in 2012, since then NBSL has provided funding and support to businesses from an array of sectors spanning all corners of the region with a recent impact report finding that the fund has yielded an impressive £4.40 economic boost for every £1 invested.

To find out more about the fund, visit: www.nbsl.org.uk/nebsf/county-durham/grants , phone: 01670 813322 or email: fundingsupport@nbsl.org.uk