New Grant Funding programmes available to support North East SME’s

The North East LEP region (County Durham, Gateshead, Newcastle, North Tyneside, Northumberland, South Tyneside and Sunderland) has been awarded approximately £2.4millon of ERDF funding to support regional small to medium sized enterprises to recover from Covid19.

Eligible SMEs in the area – ERDF eligible businesses deemed to have been directly impacted by the coronavirus pandemic – will be able to apply for grants of between £1,000 and £3,000 from tomorrow, 11th August.

The access points for these funding offers will be via the North East Growth Hub and are listed below (access is NOT via the usual NBSL application route).

The funds can be used to:

  • access one to one expert advice on HR, accounts, legal, financial, H&S, IT / digital or sector specialists, etc.
  • purchase minor equipment to adapt or adopt new technology in order to continue to deliver business activity or diversify in response to COVID 19.

The grant rate is 100%, but businesses will have to make full payment for the support or purchase and claim the grant back. The VAT element of any support or purchase is not eligible for grant support

The funding is split across two funds (businesses can only access one of the offers) and Expressions of Interest will be invited from Tuesday 11th August:

Kick Starting Tourism: £576k for eligible businesses that depend on visitors for income – visit the fund information page

Restart and Recovery Grants: £1.8million for eligible businesses in the Wider Economy who have been adversely effected by Covid19 – visit the fund information page

The access point for these funding offers will be via the North East Growth Hub only, using the links provided above. Businesses will need to complete an Expression of Interest, have a review meeting with a Growth Hub Connector and then, if appropriate, complete a Funding Application.

NBSL will be administering these ERDF Grant programmes, but all enquiries should be directed to the North East Growth Hub.

When completing the Expression of Interest please indicate that you heard about these Grant offers from NBSL.

Please note: The Funding will be released in stages. Demand will be very high for these Grant offers and the Funds are expected to be fully allocated quickly.