Local firms on course for further growth thanks to Business Compass

Tees Valley Business Compass is helping local firms realise their growth ambitions after supporting nearly 500 businesses over the last 12 months.

Of the 486 companies the local growth hub has supported, it has been heavily involved with the development of three large scale projects, totalling £258,560, of which £85,306 worth of funding was granted to these businesses.

Direct Line Supplies, Cardboard Sword and ERW Joinery, are among the hundreds of businesses Tees Valley Business Compass has supported in its first year, which represent the three best value projects it has worked on since January.

Thornaby-headquartered catering firm Direct Line Supplies secured a £39,006 grant to support the company’s marketing, sales management platform and mobile app, with the project valued at £118,200.

Cardboard Sword, a video game producer for people who don’t speak English, was boosted by a £31,120 grant to support its product capabilities and marketing overseas, as part of the £94,360 project.

Redcar joinery firm, ERW Joinery, benefited from support for consultancy on its marketing and online presence, thanks to a £15,180 grant secured from the £46,000 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, along with projects that increase broadband connectivity, research and development, innovation, and energy efficiency.

Tees Valley Business Compass is the local growth hub managed by the Tees Valley Combined Authority.

Additionally, Tees Valley Business Compass has held 584 appointments with business owners, supporting and advising them on funding opportunities, as well as securing grants to supplement growth.

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 nearly 500 companies.

“We have enjoyed a positive first year supporting companies from across many sectors to help achieve their goals, which are boosting the wider regional economy through job creation and business investment.”

Pendram Salahshouri, director and sales manager at Direct Line Supplies, said: “The support and investment from Tees Valley Business Compass has been the key catalyst in the decision to go forward with our innovation and development for a digital strategy, launching the company into the next generation.

“This smooth process will create additional jobs and in turn increase the company’s capacity, laying the foundation for the next level of growth.”

Olly Bennett, managing director of Cardboard Sword, said: “The whole team at Tees Valley Business Compass have been incredibly helpful and supportive throughout the process, from our Growth Consultant right through to post-acceptance support and claim submission.”

Joinery firm gets makeover thanks to Compass cash

 

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