The North of Tyne Business Support Fund (NoTBSF) is a grant programme aimed at driving economic growth by enabling businesses to access external expertise, and facilitating business growth and improvement plans.
Overview of Funding
Launched earlier this month (June 2024), the grant funding is available until March 2025. The NoTBSF provides businesses in Newcastle, North Tyneside or Northumberland with up to 50% funding for projects costing between £3,000 and £8,000. This financial support can be utilised to cover various external expertise costs necessary for moving your business forward, such as marketing, web design, and brand consulting.
Eligible Projects
The grant can be used for a wide range of projects that aim to:
- Grow Sales: Develop marketing strategies, enhance web design, and optimise social media presence.
- Reduce Costs: Implement efficient management systems, improve processes, and adopt quality management practices.
- Future Planning: Create succession plans, develop business growth strategies, restructure finances, and manage change effectively.
Examples of Applicable Projects
- Marketing Strategy: Crafting effective marketing campaigns to reach new customers.
- Web Design and Development: Building or revamping your online presence to attract more visitors.
- Social Media Strategy and Design: Enhancing your social media platforms to increase engagement.
- Management Systems: Streamlining operations through better management processes.
- Product Development: Innovating and improving your product offerings.
- Process Improvement: Increasing efficiency in your business operations.
- Quality Management: Ensuring your products or services meet high standards.
- Succession Planning: Preparing your business for future leadership transitions.
- Business Growth Planning: Outlining strategies for expanding your business.
- Change Management: Effectively handling transitions within your business.
Eligibility Criteria
To qualify for the NoTBSF, your business must be:
- Located within the Newcastle, North Tyneside or Northumberland Council catchment area.
- Aiming to grow turnover and/or increase staff employment.
- Trading and classified as an SME, employing fewer than 250 people with a turnover of less than €50M or a balance sheet value of less than €43M.
The programme supports various types of organisations, including private businesses (Limited Companies, Partnerships, Sole Traders), Social Enterprises, and Third Sector Organizations (Charities, Community Interest Companies).
Learn More
For more information about the funding head over to the NoTBSF site here;
Or to understand how we can assist you and your business, please email us or call 0191 447 2727.
