In Business growth and finance, News

The North East Local Enterprise Partnership (LEP) has bolstered the North East Growth Hub’s Supply Chain North East programme to help regional businesses rise to the ongoing UK-wide Personal Protective Equipment (PPE) challenge.

A flagship North East LEP business growth scheme, Supply Chain North East is delivered by RTC North in partnership with NEAA, NEPIC and Generator/Digital Union.

Capital grants programme enhancements have been made in recognition of the constraints faced by many businesses at present.

They include the ability for the Supply Chain North East scheme to make payments at the start of a project. SMEs can also access up to 60% in grants (increased from a cap of 40%) towards stalled pipeline projects due to COVID-19 or activities aimed at developing the supply chain.

Critically, grants up to 80% are available for organisations which can potentially support supply chain needs relating to the health and social care sectors, for example in the provision of PPE, respirators and other products. The funding has been made available from Government’s Local Growth Fund via the North East LEP.

Colin Bell, Business Growth Director at the North East LEP, said: “The changes to the Supply Chain North East programme are significant because they provide the ability to speed up the supply of PPE and other products and services needed in the fight against COVID-19.

“We are determined to give businesses the support they need to unlock projects that will allow them to thrive in the future and this is big step towards that goal.”

Jamie Ollivere, Managing Director at RTC North, said: “In response to COVID-19, it’s vital businesses know that through the Supply Chain North East programme they can get immediate support. Our team is poised to help businesses respond directly to supply chain demands in healthcare and to support other projects that will help them build resilience and put them on a path back to growth.”

Supply Chain North East is a multi-million pound programme aimed at revolutionising the way SMEs diversify their offering and embrace new markets. The programme is receiving £3,148,513 of funding from the England European Regional Development Fund, as part of the European Structural and Investment Funds Growth Programme 2014-2020. Funding of £800,000 has been made available for the grants from the North East LEP’s Local Growth Fund from Government.

For more information, please visit Supply Chain North East.

 

Ends.

About the Local Growth Fund:

Local Enterprise Partnerships are playing a vital role in driving forward economic growth across the country, helping to build a country that works for everyone.

That’s why by 2021 Government will have invested over £12bn through the Local Growth Fund, allowing LEPs to use their local knowledge to get all areas of the country firing on all cylinders.

Analysis has shown that every £1 of Local Growth Fund invested could generate £4.81 in benefits.

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