New North of Tyne Business Support Fund (NoTBSF) Launched

Jun 26, 2024

NBSL, in partnership with the North East Combined Authority, are delighted to announce the launch of the new North of Tyne Business Support Fund (NoTBSF) thanks to funding from the UK Shared Prosperity Fund.

The North of Tyne Business Support Fund (NoTBSF) has been designed to drive economic growth by helping businesses to access external expertise to implement business growth and improvement plans.

The key elements of the  North of Tyne Business Support Fund (NoTBSF) are:

  • Up to 50% funding for projects that cost between £3,000 and £8,000 (VAT costs cannot be funded)
  • Eligible businesses – SMEs based in Newcastle, Northumberland or North Tyneside who are planning to grow (i.e. create or safeguard jobs)
  • Eligible Projects – where external expertise is being used to deliver business improvement projects (consultancy, design and development)
  • Programme runs until February 2025 or until the funding has been fully allocated

Businesses must:
• Be based in Newcastle, North Tyneside or Northumberland i.e. the business pays its business rates to one of the Councils in those three areas
• Be Trading i.e. making sales
• Be an SME – employing fewer than 250 staff
• Be planning to grow i.e. creating new jobs or safeguarding existing jobs.
• Not have received more than £315,000 of combined State Aid under the Minimum Financial Assistance (MFA), Services of Public Economic Interest Assistance (SPEIA) or Special Drawing Rights (SDRs) allowances since the 1st of April 2022.

Projects must:
• Support business growth i.e. create and/or safeguard jobs
• Take no longer than 3 months to complete
• Be completed, and the Grant claimed, by February 2025 at the very latest

Interested Clients
For further information, please visit the North of Tyne Business Support Fund Overview page.

Applications will be assessed for eligibility from the 1st July 2024 but businesses can apply now to be among the first to take advantage of the new offer by submitting the NoTBSF Grant Application Form.

If you have any eligibility queries, please email NBSL to arrange a chat, at fundingsupport@nbsl.org.uk.