UMi to support Northumberland's new grant fund to support rural business
In a promising development for Northumberland's rural businesses and communities, the Northumberland Small Business Service (NSBS) has unveiled a brand new £2m capital grant programme designed to drive growth, resilience, and prosperity across the region. With the support of UMi, this initiative promises to inject fresh life into the region's micro and small businesses, all while creating opportunities for job growth and the local economy.
The NSBS Grant Investment Fund aims to provide a vital boost to Northumberland's micro and small rural businesses, offering capital grants ranging from £10,000 up to a maximum of £300,000.
The Northumberland Small Business Service, is delivered by Advance Northumberland delivering on behalf of Northumberland County Council. The project is part funded by the North of Tyne Combined Authority Investment Fund and by the UK Government through the UK Shared Prosperity Fund and the Rural England Prosperity Fund with the North of Tyne Combined Authority as the lead authority.
Between October 2023 to March 31st 2026, businesses looking to expand their productivity, capacity, or diversify into new markets and products can leverage this financial support to reach their full potential.
In addition to the grants, the programme offers an extensive package of support services to encourage business growth and resilience.
This includes business diagnostic and brokerage services, start up support for those with entrepreneurial aspirations, and a range of 1:1 support and workshops aimed at helping businesses grow and thrive.
With the right combination of financial assistance and strategic guidance, businesses in Northumberland will be better equipped to face challenges and seize opportunities.
UMi has secured a contract to provide due diligence and conduct appraisals for businesses that have been approved to receive a grant, ensuring that the funds are put to the best use for the growth of Northumberland's business community.
UMi's expert team has extensive experience in delivering similar projects for the likes of Derby City Council and Zero Waste Scotland and will draw on this knowledge and expertise to ensure the success of Northumberland's latest capital grant scheme.
Lesley Vaughn, Project Manager at UMi said: “The team at UMi are excited to support Advance Northumberland to provide such an important scheme.
“This grant promises to play a pivotal role in ensuring that rural businesses across Northumberland can respond effectively to the challenges and opportunities in their markets.
“It’s a remarkable step forward for the regions prosperity, and an opportunity for both businesses and communities to flourish.”
Lucy Evermore, NSBS Programme Manager said: “It is an exciting project, and the team will work hard over the next 3 years to create and safeguard jobs as well as supporting businesses to respond to opportunities and challenges within the rural community.
I have worked with many micro-small sized businesses over the years, and I am excited to be able to bring even more support to businesses in the rural community.
I would advise any business in Northumberland who are looking to grow through capital investment, or simply learn more about the project to get in touch”.
The NSBS Grant Investment Fund is a huge opportunity for Northumberland's rural businesses and communities. With financial support, strategic guidance, and the commitment of dedicated partners like UMi, this initiative aims to safeguard existing jobs, create new ones, and reinvigorate the regions rural economy.