Tees Valley Business Compass, the local growth hub for the area today launched increased support and funding available for ambitious companies looking to grow.
Launched back in 2014 Business Compass has already supported thousands of local businesses, using European Regional Development Funding secured by Tees Valley Combined Authority the services is significantly enhancing its support available to local businesses.
Paul Booth, Chair of Tees Valley Local Enterprise Partnership and Member of Tees Valley Combined Authority opened the event and said: “We have simplified the business support available and made Tees Valley Business Compass a one stop shop for all support from pre start up, to businesses looking to take the next step to grow their business/workforce and all in between. I urge you to make the most of the first class free service available.
Paul added: “The enhanced provision demonstrates our commitment to drive economic growth and it will significantly contribute towards the 25,000 jobs we promised to create when we launched our Strategic Economic Plan just a few months ago.”
The grant schemes available split across 4 key themes;
- Energy efficiencies
- General business support for growth
The new team of Growth Consultants outlined the eligibility criteria for the various grant funds on offer in a number of mini workshops.
Tracey Watson, Programme Manager of the business support service, said: “This is a comprehensive support package for local businesses and we have a team of business growth consultants across the area with many years of experience. I’d encourage any business looking to grow or expand offering more than a local service to come forward and contact the team on 0300 456 3565 or visit www.teesbusinesscompass.co.uk”
Suhail Aslam, Programme Manager of Innovate Tees Valley, said: “Utilising the Innovate Tees Valley project through Teesside University and its partners and also accessing Innovation Vouchers through the Business Compass, SMEs can benefit from a comprehensive structured programme to help them innovate new products, processes and systems.”
Will Nash, Programme Manager of Tees Valley Business Compass Start Up added: “Launching your own business can be a daunting and confusing process, the Business Compass start-up scheme is there to help individuals across the Tees Valley make their aspiration of owning a business reality. I encourage anyone with a business plan or just an idea for a new business to take advantage of the opportunities the support initiative can offer.”
Over £13milion has been secured to support this activity and it will attract private sector match funding with investments totalling over £32million.
The growth hub is part-funded by the European Regional Development Fund, the Department for Business, Energy & Industrial Strategy and by the Tees Valley Combined Authority and is delivered by BE Group on behalf of Tees Valley Combined Authority.
Businesses looking to access support should call 0300 456 3565 or visit