We’re pleased to be able to let you know that the North East Business Support Fund has been extended through to March 2023 and is now open again for Applications.
NBSL has secured further investment from the European Regional Development Fund (ERDF) to extend this popular regional business support scheme to provide £1.6m of grants to an additional 730 businesses.
The Offer
The programme will offer Grants for Business Improvement Projects that use External Expertise and the financial support will remain the same:
1
FUNDING
County Durham businesses
Up to 40% funding for projects costing between £2,500 and £8,000
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FUNDING
Northumberland or Tyne & Wear businesses
Up to 35% funding for projects costing between £3,000 and £8,000
Main Eligibility Criteria
The business must be an SME with:
- fewer than 250 full time equivalent employees
- an Annual Turnover not exceeding € 50 Million and Balance Sheet value not exceeding €43 Million
- credible plans to grow / recover from the impact of Covid (staff or turnover)
If the business is involved in any kind of group structure – either being partially of fully owned by another businesses or having partial or full ownership of another business – NBSL would need details to establish eligibility.