European Union - European Regional Development Fund

Support for small business suppliers at Boro Event

Tees Valley Business Compass is highlighting opportunities for companies that supply small businesses, thanks to a special event held in Middlesbrough.

TVBC Supplier Event
Thursday 31st August, 2017

At the event more than seventy businesses joined expert growth consultants from Tees Valley Business Compass. Companies learned how small businesses they supply can access funding of up to 33% towards the value of the projects they are engaged in.

The support available for companies through Tees Valley Business Compass, the local growth hub, comes from an investment of more than £9.5 million from the European Regional Development Fund (ERDF), secured by Tees Valley Combined Authority. Support is available for growth, along with projects that increase broadband connectivity, research and development, innovation, and energy efficiency.

The event, which is one of many that Tees Valley Business Compass’ organises throughout the area, was held at Uno Momento on Middlesbrough’s Linthorpe Road, and also provided attendees with an opportunity for informal networking.

Shak Asghar, Growth Service Manager of Tees Valley Business Compass said: “We are pleased that so many companies that supply small businesses joined us to learn about the support available to their clients. Whether they are helping their clients grow through activities like consultancy and marketing support, providing them with broadband or low carbon infrastructure, or assisting them to create new products and services through innovation and research, help is available.

“This event, like the others in our programme, is about reaching out and letting businesses know what we can do to help. By engaging with us, companies might find funding or support for their projects that they might otherwise have missed out on.”

Tees Valley Business Compass is the local growth hub delivered by BE Group on behalf of Tees Valley Combined Authority. It helps ambitious businesses realise their growth potential by offering access to a range of practical services, from local business information, assessing growth options through to unlocking finance and funding streams. The growth hub is part-funded by the European Regional Development Fund and the department for Business, Energy & Industrial Strategy.

The Tees Valley Business Growth Hub has received £9,520,000 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department for Communities and Local Government is the Managing Authority for European regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www,

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