Businesses last chance to apply to The Growth Fund

Gateshead Council is encouraging SMEs to apply for funding available by Friday 24 March 2023.

Gateshead based businesses or businesses looking to establish roots in the borough are being encouraged to apply for funding to help them grow. Businesses can apply for capital funding via The Growth Fund (opens new window), which is funded by the European Regional Development Fund (ERDF), of between £40,000 and £200,000 if they are planning investment and expansion of at least £67,000.

Projects proposed in application must create at least one full-time job for residents within the North East.

Small and medium sized businesses planning to apply to The Growth Fund are encouraged to submit an application by Friday 24 March, as monies received must be spent by 31 May and the additional staff member must be in their post by this time.

Cllr Malcolm Brain Gateshead Council Cabinet Member for Economy said:

"I welcome the funding to aid capital investment opportunities for business and encourage any business thinking of investing or considering a location in the borough to apply to ERDF Growth Fund.

Additionally, I am pleased that the investment comes with the commitment from businesses to create more employment opportunities for our residents."