Businesses from the Northern Powerhouse region have the chance to meet investors from across the UK, thanks to two major business events taking place on Tyneside next week.
With innovation in business central to the events, the Northern Powerhouse Business Summit (04-06 July) – part of Great Exhibition of the North – and FinanceCamp North East (05 July) are bringing experts and potential funding streams directly to the businesses that need them.
Business owners from across the North will be able to discuss their funding needs with investors from both the Northern Powerhouse Investment Fund (NPIF) and the recently announced North East Fund, alongside Business Angels, London-based VC firms and more.
NPIF was established to provide £400 million of funding by way of microloans, debt and equity investments ranging from £25,000 to £2m to help a range of small and medium sized businesses based across the Northern Powerhouse, to start up, scale up or stay ahead.
The North East Fund is a £120m investment programme available to SMEs across Durham, Northumberland and Tyne and Wear. It is made up of five funds, each with a different investment focus to suit the needs of SMEs depending on the sector in which they operate and where they sit on the growth curve.
Grant Peggie, Director at British Business Bank, said: “Events like the Business Summit are incredibly important to the prosperity of the regional business communities, and give funding streams such as the Northern Powerhouse Investment Fund an even greater platform to deliver on our objectives to provide vital investment for SMEs across the North.
“We have already seen the great potential of the region’s businesses having backed businesses with over £50m of investment in our first year, and we look forward to building on that momentum. Our attendance at events such as these will be key to that.”
Andrew Mitchell, Chief Executive of the North East Fund – who will be speaking at FinanceCamp – said: “To have the chance to be involved in both events in one week demonstrates that not only is there real potential for business growth in the region, but that the infrastructure of support on offer to businesses seeking advice and inspiration, access to funding, and opportunities to network and collaborate has never been greater.
“Our Fund Managers will be available at both events so growing businesses from Durham, Northumberland and Tyne & Wear will not only have the opportunity to ‘pitch’ directly to us at FinanceCamp, they can also come and talk to us about the fund at the Northern Powerhouse Business Summit. This really is a fantastic time to do business in the North.”
The week is also a clear opportunity for investors and the business community from outside of the North to engage with the enterprises at the forefront of innovation, working out of the region today. The events will help highlight the investment opportunities available within the Northern Powerhouse and help facilitate introductions between those seeking funding and those that can provide it. Long-term relationships between investors and businesses play a vital part in ensuring that regional economies continue to thrive.
Northern Powerhouse Minister, Jake Berry, said: “The Northern Powerhouse Business Summit and FinanceCamp North East will bring investors, business owners and industry leaders together to supercharge growth, drive innovation and spur investment across our region. It’s these once in a lifetime events that will define the economic legacy of the Great Exhibition of the North and shape the debate around our region’s future prosperity.”
The Northern Powerhouse Business Summit is the central business event during Great Exhibition of the North. It will bring together ministers, city region mayors, councils and business leaders along with investors, to discuss topics such as how the Northern Powerhouse can be at the forefront of the fourth Industrial Revolution – Industry 4.0 – , the government’s Industrial Strategy and the role of the North in the ‘Grand Challenges’.
The Summit – which is supported by the European Regional Development Fund – is free for businesses to attend. For full details, plus how to register, please visit www.getnorth2018.com/business.
FinanceCamp is the North East’s annual event directly connecting businesses with the funding they need to grow, in a series of meetings with investors and lenders. Taking place at St James’ Park, it will also bring business success stories together with speakers and an exhibition.
For details of FinanceCamp, plus how to register, please visit https://financecamp.co.uk/.