Scheme details
Area: Newcastle upon Tyne, Sunderland, Gateshead, North Tyneside, Northumberland
Categories: Finance & funding, Equity
Business stage: Trading business
Telephone: 0191 716 1007
Contact email: businessgrowthfund@weareumi.co.uk
Page last updated: 16 April 2025
The Business Growth Fund is a £3.5m programme of investment funded by the UK Shared Prosperity Fund that supports business growth across the areas of Gateshead Metropolitan Borough Council, North East Combined Authority, Sunderland City Council.
The primary aim of the fund is to create employment and stimulate business growth. It will foster innovative processes to drive productivity, resulting in increased profitability, wage growth and employment growth in businesses, strengthening our economy and creating better jobs.
The Fund will attract £11.5m of private sector investment and aim to create a minimum of 268 new jobs in the areas.
Grants are available through UMi.
Eligibility
You could be eligible for a grant of up to 30% of expenditure, if you:
- Have a project which couldn’t proceed without grant support
- Are planning capital investment of at least £67,000
- Are expanding or establishing in the areas of Gateshead Metropolitan Borough Council, Newcastle City Council, North Tyneside Council, Northumberland County Council, and Sunderland City Council.
Further information can be found in the Eligibility Guide.