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As the North of Tyne Growth Fund (NTGF) moves into its final year and makes its final push to encourage businesses to take up the support and grants, Mike Baker Senior Project Manager at UMi, reflects on the team's challenges and achievements since launching the scheme in January 2020.
It’s been a tough couple of years for businesses. But what strikes me is the incredible resilience and bravery our region’s business leaders and their teams have shown.
Despite the obvious hurdles and uncertainties, 20 businesses have committed £13.5m to their growth and to the region’s economy in partnership with the NTGF programme. £2.48m of this was provided by NTGF grants directly, which are part-funded by the European Regional Development Fund (ERDF).
345 new jobs will be created from these 20 projects, which is brilliant because it means we will exceed our target of 252 jobs created over the lifetime of the scheme.
A further 75 businesses have also received support from our advisers to spot opportunities for their growth, and to access other services to help them on their journey.
And we’re not done yet.
We still have around £1m left for North of Tyne businesses to apply for. But time is running out for these capital investment grants to be awarded and spent.
So, if you’re thinking about your company’s growth, speak with the NTGF team today. They will take time to get to know your business and the challenges and opportunities you have.
If you have a project that is eligible for funding, the team will help you through the application process and even if you’re not ready for funding, they can signpost you to further support, saving you time and money.
What strikes me when I look at the projects we have supported is their diversity.
With the fund’s help, Ashington-based I-Glo are making public spaces safer with their innovative glow in the dark glass beads.
North Tyneside company C&D Access are protecting workers by expanding their safety training and drone inspection services.
Vegans are enjoying delicious new chocolates from Cramlington confectioner Sweetdreams.
Visitors to Tokyo will also enjoy the new Harry Potter World scenes and settings that Newcastle-based Damian Cronin shopfitters are working on.
The NHS will be greener and more efficient thanks to digitised record handling with contracts won by Blyth-based Cleardata, and Datatron in North Shields.
And this is just a flavour. It’s fantastic to see the numbers, but it’s when I look at what those numbers have made possible that I feel so proud of the team and the businesses we’ve supported.
Driving around North Tyneside, you see this massive new building coming out of the ground for Transmission Dynamics. Its impressive flagship headquarters is going to look brilliant and attract even more talent to the area.
When you see what NTGF support has enabled local businesses to do – the new or extended buildings, the factories that are now more fully equipped, with more people, and more activity going on – it’s really satisfying.
These projects wouldn’t have gone ahead at the scale or in the timeframe they have without the programme’s support.
The funding has given companies the confidence to take the leap and invest in their business, knowing that some of the risk is offset or a funding gap is bridged.
And the long-term promise of these projects is huge – they have given companies more space to grow into, more kit to boost productivity, and more skilled people. All these things build the capacity that they need to deliver more products and services, win bigger contracts, widen their markets, or compete with international suppliers.
If you want to join these businesses in building the North of Tyne’s future prosperity, then this opportunity to access the support and funding you need to realise your ambitions is still available, and we don’t want you to miss out. Call the team today on 0191 716 1007 or email northoftynegrowthfund@weareumi.co.uk
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