£25.9 million investment to strengthen North East business support
Businesses across the North East will benefit from a £25.9 million investment designed to make it easier to access advice, finance and support for growth.
The North East Mayoral Strategic Authority has announced Business North East, a regional partnership bringing together the authority and the area’s seven local councils.
Running from January 2027 to March 2029, the programme aims to create a simpler and more coordinated business-support system across the region.
Support at every stage of business growth
Business North East will provide a central regional hub offering specialist advice and initiatives to help businesses access finance, work with mentors and explore exporting opportunities.
Seven local-authority services will maintain direct relationships with businesses in their areas, connecting them with relevant local and regional support.
The programme will be delivered through five areas:
Inspire – encouraging entrepreneurship, particularly among young people and underrepresented groups
Explore – helping people develop ideas and prepare to start a business
Start – supporting the creation and survival of new businesses
Succeed – helping established firms improve productivity, innovation and resilience
Grow – supporting ambitious businesses to scale, create jobs, secure finance and enter new markets
More than 300 businesses helped to inform the new approach, highlighting the need for support that is easier to understand and navigate.
Helping NETPark companies develop and grow
The programme could provide another valuable route to support for companies at NETPark and across County Durham.
Businesses developing new technologies often need different types of assistance as they move from research and product development towards manufacturing and commercial growth. This can include specialist advice, access to finance, export support, mentoring and connections with regional partners.
By bringing local and regional services together, Business North East aims to give companies a clearer route to the support that reflects their current needs and future plans.
The programme is due to launch in January 2027.
