Page 31 - Horizon Han22

A guide to
funding support for your
business growth:
European Union for regional projects in the UK benefitting people and local economies.
Is there any funding currently available for businesses in the North East of England?
Many businesses are unaware of the types of financial support that are currently available and may be missing out on vital funding that could help their business to navigate through challenging times and act as the platform for business growth.
"There are numerous different grants and funding schemes that may be available to your business depending on your region, industry and types of business purchases."
Here are some of the funding and additional financial support solutions that your business may qualify for:
Where are we at generally with the state of public funding?
The current negative economic outlook in the UK is causing challenges for businesses of all sizes
and government funding has been scaled back, with enforced cutbacks in the aftermath of the pandemic and Brexit.
The instability of the UK government, with Liz Truss occupying the PM role for the shortest ever tenure before being replaced by Rishi Sunak, is also contributing towards economic uncertainty and changes to policies.
Local Enterprise Partnerships have been integral to driving economic growth over the last decade but in March 2022, the government’s LEP review anticipated that LEPs would fully integrate into local democratic institutions.
Exiting the EU left an £8.4 billion funding gap that was historically provided by the
I
n 2021, the UK Government
announced a £1.6 billion commitment
to regional funding programmes, including grants, loans, discounts and rebate schemes.
CEO Shak Asghar with NUDL client's Melissa Armstrong and Marie Ransom from
Key Wellbeing
PICTURE
Horizon issue 2.indd 31 14/12/2022 14:49:52