New funding approved to support local businesses and entrepreneurs
North Tyneside Council is set to offer a new suite of support to local businesses through a refreshed Business Factory service following Cabinet approval to accept grant funding from the UK Shared Prosperity Fund (UKSPF).
The Business Factory provides support and guidance on starting and growing a business in North Tyneside, including developing a social enterprise.
With the introduction of the new service, businesses will be able to access a suite of support through a refreshed Business Factory website, as well as regular workshops and 24/7 business support through an online platform.
The funding will provide a refreshed approach to business support; built around self-guided learning with complementary events, as well as professional advice and workshops, which aim to increase the number of businesses and jobs in North Tyneside and contribute to the survival and growth of established businesses.
The Business Factory has successfully supported thousands of businesses through exciting initiatives since its creation and the new programme of support is set to build on this success.
The revitalised service is projected to deliver non-financial support to more than 490 organisations over the 18 months with 100 new businesses created in that time.
Cllr Carl Johnson, Deputy Mayor of North Tyneside, said: “We are delighted to be able to continue providing specialist support for businesses and entrepreneurs in North Tyneside through our Business Factory.
“So many businesses have come through and grown their social enterprise with support from our team over the years and we’re confident that this new offer will see many more.
“In the coming months, we will be engaging with local businesses and the North Tyneside Business Forum to help shape the offer that is available to local businesses and residents.”
The Business Factory is funded by the UK Shared Prosperity Fund (UKSPF), through the North of Tyne Combined Authority.
For support from the Business Factory please visit https://businessfactorynt.co.uk/, call the business team on 0191 643 6409 or email info@businessfactorynt.co.uk