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North East Fund targets SMEs in South Tyneside

The £120 million North East Fund is putting together an access to funding and investment workshop for owner-managers, sole traders and entrepreneurs in the South Tyneside area.

The event has come about to encourage the thousands of small but very successful SMEs in the area to grow, with advice and information about how to become investor ready.

Whether capital is needed for developing products, purchasing new equipment, upskilling staff or creating new jobs, many businesses across South Tyneside need help to grow and that starts with knowing where to look.

Start-up and family-run businesses alongside other kinds of SMEs from places like Simonside, Bede, Cleadon Lane, Rekendyke, Middlefields or Tyne Point are invited to attend.

Event organisers are hoping they can show that it’s not just the big and high-profile businesses that can be awarded funding.

James Holloway at the North East Fund explained: “More than £1m has now been allocated to South Tyneside-based companies by the North East Fund.

“However, a big misconception by business owners is that they need to be large operationally, with high turnover or at the forefront of their industry producing world-class, innovative products to receive funding. This is simply not the case.

“For the regional economy, [SMEs] are our industrial backbone, but locally, they also provide much needed employment and new jobs creation within their community, albeit on a smaller scale.

“Events like this provide an excellent opportunity for business owners from all sectors to drop by on a very informal basis, so we’re hopeful that many South Tyneside SMEs will attend.”