£ 8M BUSINESS BOOST
Partnership – The Durham Business Growth Programme team ( from left ) RTC ’ s Jim Barr , Umi ’ s Nicki Clark OBE , Business Durham ’ s Sarah Slaven and Cllr Elizabeth Scott , cabinet member for economy and partnerships at Durham County Council .
Growth programme launched for County Durham firms
A
new programme to help businesses enhance their productivity and accelerate growth has been launched in County Durham . Durham County Council is funding the Durham Business Growth Programme , a new scheme which has been launched by Business Durham , the council ’ s business support service , with its delivery partners RTC North and UMi .
With a total budget of £ 8.16m , the programme combines the expertise of Business Durham , RTC North and UMi to provide a simplified and accessible platform for businesses seeking tailored support .
Scheduled to run until March 2025 , the programme is expected to support 900 businesses , from which 250 will receive grants , leading to the creation and preservation of approximately 1,300 jobs .
The council secured funding for the Durham Business Growth Programme from the UK Shared Prosperity Fund ( UKSPF ) through the Department for Levelling Up , Housing , and Communities .
The primary objective of the programme is to strengthen the county ’ s economy , with a specific focus on supporting local businesses .
Cllr Elizabeth Scott , Durham County Council ’ s cabinet member for economy and partnerships , said : “ The Durham Business Growth Programme represents a substantial investment in the future of our local businesses .
“ It will serve as a catalyst for enhancing productivity and promoting growth among existing enterprises in the county . With a seamless , joined-up offering from our delivery partners , based on their strong track record , we are building on their wealth of experience . “ In alignment with the County Durham Inclusive Economic Strategy , this programme will provide the vital support necessary for businesses to thrive , generating job opportunities for people in the county .
“ This programme is one key element of our support utilising the UKSPF funding we ’ ve secured , while other strands are focused on fostering innovation and enterprise within our community .”
The programme is open to all businesses in the county , regardless of their size or sector .
However , particular emphasis has been placed on businesses operating in growing sectors , including the green economy , decarbonisation , space and satellites , fintech and digital , advanced material electronics , life sciences , and the creative and cultural sectors .
The programme offers a range of support , including : > Engagement and Relationship Management : A team of five business engagement officers , including specialists focused on the tourism and rural sectors , will provide localised support , fostering connections and relationships vital for business growth .
> Productivity and Growth Support : The programme offers diverse services such as one-on-one consultations , seminars , workshops , peer-to-peer events , and conferences , encompassing all business functions across various sectors , coordinated by RTC .
> Comprehensive Grants Programme : Managed by UMi , the programme includes a capital fund of £ 3.3m , offering grants ranging from £ 10,000 to £ 200,000 , and a revenue fund of £ 700,000 , providing grants from £ 1,000 to £ 10,000 for specialist consultancy .
> Coordinated Marketing Approach : To streamline access to information and support , a dedicated website has been launched , serving as a centralised hub for businesses . Sarah Slaven , managing director at Business Durham , which is leading the delivery partnership said : “ We are delighted to be working alongside RTC North and UMi in the delivery of this important programme .
“ Durham Business Growth represents a transformative approach to how businesses access support in County Durham .
“ With our emphasis on a joined-up approach and placing businesses at the core of our efforts , we ’ re simplifying the process , making it easier for businesses to access integrated assistance .
“ This programme offers a fresh perspective on business support in the county , providing a comprehensive and tailored package .
“ By placing businesses at the heart of the programme , we are forging strong partnerships and collaborative efforts , with the aim of propelling our local businesses towards a brighter and more promising future .”
Durham Business Growth is now open for applications . For more information , please visit www . durhambusinessgrowth . co . uk
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