Even more firms on course for growth thanks to Tees Valley Business Compass
Of the 1,109 companies the local growth hub has supported, it has been heavily involved with the development of three large-scale projects, totalling £738,577, of which £243,730.41 worth of funding was granted to these businesses.
Everflow Limited, J MAC Safety Systems Limited and Mode Homes Limited, are among the hundreds of businesses Tees Valley Business Compass has supported in its second year, which represent the three best value projects it has worked on since the service relaunch in January 2017.
Wynyard-based Everflow Limited secured a £115,269 grant to facilitate bespoke IT system development within the company, with the total project valued at £349,300.
J MAC Safety Systems Limited, experts in working at height was boosted by a £74,594.19 grant to develop a design for a system which will prevent materials from falling from scaffolding when construction work is taking place, as part of a £226,043 project.
Housebuilder, Mode Homes Limited based in Stockton, benefited from consultancy support to develop their business processes for PR and marketing, cost and project management, architectural design, engineering and IT, thanks to a £53,867.22 grant secured from the £163,234 project.
The support available for companies comes from an investment of more than £9.5m from the European Regional Development Fund (ERDF), secured by Tees Valley Combined Authority. Support is available for growth projects, research and development, consultancy and innovation.
Tees Valley Business Compass is the local growth hub, experts in growth and a one-stop-shop for all business needs delivered by BE Group on behalf of Tees Valley Combined Authority.
Additionally, Tees Valley Business Compass has held 654 completed appointments with 774 eligible business owners, supporting and advising them on funding opportunities, as well as securing grants to supplement growth and 335 pre-start businesses were supported.
Karen Jones, senior project manager at Tees Valley Business Compass, said: “Tees Valley is home to many enterprising businesses that are set for continued growth, and it has been satisfying to have engaged with over 1000 of them. We have enjoyed an even stronger second year supporting companies across many sectors to help achieve their goals, which are boosting the wider regional economy through job creation and business investment.”
James Cleave, finance director at Everflow Limited, said: “Applying for and obtaining the grant was made far more straightforward than it could have been with the assistance of the team at Tees Valley Business Compass, particularly Dave Jones who was and continues to be a great help. The grant has been fundamental in supporting new jobs as well as capital investment in the business, and will be vital in enabling Everflow to achieve its growth aspirations.”
Luis McCarthy, director at J MAC Safety Systems Limited, said: “The funding has enabled JMAC to develop the business through investment in infrastructure, management systems and specialist consultants who have enhanced the skill set of our key management team. Thi, in turn, will allow the business to grow throughout the UK into 2019 and 2020, bringing long term sustainable jobs to our head office in Teesside for the foreseeable future.”
Paul Devine, director at Mode Homes Limited, said: “Lesley Stothart, our growth consultant’s helpful, friendly and creative approach helped us focus on the needs of the business and the benefits we would gain by accessing the Business Growth Fund.
"She was always on hand to assist with the application and to clarify any queries we had during the process and within a short space of time, our application was approved.
"We are in no doubt that the Growth Fund will accelerate the growth of our business and help us reach our targets much quicker than originally forecast. We have also been advised that the support from TVBC is not just a one-off, but is ongoing, which is a great comfort to a young, ambitious company.”
Ben Houchen, Tees Valley mayor, said: “These case studies show how, big or small, Tees Valley Business Compass is helping companies reach their potential. By supporting a diverse range of companies from every corner of the region, the team is helping keep our ever-important firms successful, our economy growing and our residents in good-quality jobs. I’m delighted to hear their work is paying off for our businesses.”
TVBC - The Tees Valley Business Compass is a one-stop-shop for all your business needs if you're a business based in the Tees Valley area. This covers any business based in Darlington, Hartlepool, Middlesbrough, Stockton and Redcar & Cleveland. The team are "Experts in Business Growth" and want to work with you to help your Tees Valley business grow.
Published: 20 December 2018