Businesses Support Booming
Businesses Support Booming
Within six months of being launched, a business support fund designed to help small and medium sized enterprises across the North East has received over 800 applications. Managed by North East Enterprise Agency, NBSL, the main aims of the North East Business Support Fund are to help businesses become more competitive, more sustainable, and to help them grow. With over 90% of applications benefitting from assistance, this is a source of funding that is definitely improving businesses and achieving results.
John King, North East Business Support Manager for NBSL, said, “The North East Business Support Fund offers up to 40% funding, to a maximum of £1400, for business improvement projects. We have been overwhelmed by the response. When we launched the fund we had a target of assisting in the region of 1300 businesses and we are already well on our way to achieving this goal.”
To date, a wide range of projects have been supported across the North East – from North Northumberland to Teesside and Durham, and across Tyne and Wear. They have been assisted with the development of Marketing Strategies, the implementation of Social Media strategies, the introduction of process improvement plans, website development and the delivery of business expansion consultancy.
Through this fund, NBSL were looking to support business to business operations in a bid to contribute to the overall economy of the North East. They believe they have done just this, and are having a positive impact on businesses across the region as John King explains:
“By making the fund easy to access we hoped to attract a lot of interest from ambitious businesses but our expectations have been exceeded with the response and positive feedback we have received. The funding has definitely helped to stimulate growth for companies by providing them access to the external expertise to move their business forward.”
NBSL are keen to receive more applications from eligible businesses and John tells us what criteria they must meet to access this funding:
“The Business Support Fund has been designed to benefit the entire North East economy, not just independent businesses. This, however, is on the proviso that applicants have a predominantly Business-to-Business client base, and fewer than 250 full time employees. With this in mind we know we can continue to help businesses achieve their growth plans across the North East”.
One business who have benefitted from the funding is ProFleece based in Ashington, Northumberland. Profleece, a pet bedding company started around three years ago and as a small fledgling business they were looking to expand.
The company wanted to go to the next level, via business advice, training and support. They aimed to increase business in the UK and expand into international markets. The owner was confident in the product, but not the process. Bob Forster says: “Not being from a business background I needed help and advice and I have found this service superb – I was always sceptical, but was reassured from the beginning that everyone was there to help.”
The Business Support Fund sat down with them, and offered advice and support. It advised them on how to raise the profile of the business, and how to take it forward. They discussed everything from product information, to promoting themselves at Trade fairs and over the telephone.
The funding allowed Profleece to employ Mike Acton Business Coaching, Joy, their excellent advisor, took them through the simple process. At the end of the process they were able to use the ideas and tips they discussed in a simple but effective action plan.
As a result ProFleece has attended its first two trade fairs – one in Europe and one in the UK, which are resulting in increased sales. They are also working with UKTI and have taken on an employee, as part of an apprentice scheme. Now ProFleece are heavily targeting export markets and looking toward a profitable future.
Companies wanting further information about the North East Business Support Fund should contact NBSL on 01670 813322, visit www.nbsl.org.uk/what-we-do/we-help-businesses-to-develop or contact [email protected].
– ENDS –
Media contact:
Name: Barbara Huddart – Glendale PR
Contact Number: 01668283044
Email Address: [email protected]
Notes for editors:
The North East Business Support Fund Project is being part financed by the European Regional Development Fund Programme 2007-13. The Department for Communities and Local Government is the managing authority for the European Regional Development Fund Programme, which is one of the funds established by the European Commission to help local areas stimulate their economic development by investing in projects which will support local businesses and create jobs. For more information visit www.communities.gov.uk/erdf.
