AN uncertain economic landscape has led to changes in priority for businesses, plans are modified as different market sectors dip and rise, and new buzzwords come to the fore.
There has been a lot of talk about the survivability of firms – their ability to get through tough times, and of course we’ve seen some big names fall foul of the recession.
However in the last year Business Link has supported more than 30,000 businesses and helped in excess of 4,000 businesses begin trading , proving that despite the difficult trading conditions companies in the North East are prospering.
Business Link can help firms futureproof their plans by looking at all of the aspects that boost the survivability of firms.
With this in mind, there really has never been a better time to talk to Business Link, the service which offers our region’s businesses advice, guidance and support to develop and grow.
Often the first concern is access to funding and, of course, Business Link can point companies in the direction of financial help but the service is about much more than hard cash.
For example those taking advantage of the Intensive Start-up Support Fund can also access help with things such as product development, branding, e-commerce and e-marketing, business and financial planning – all the vital tools needed to boost business success.
Business Link wants businesses to get in touch as soon as possible to make sure they don’t miss the opportunity to strengthen their future commerciality.
Budding entrepreneurs and new businesses can also give themselves a competitive advantage via the Starting a High Growth Business Fund, which exists to help people thinking of launching a new business within the next six months, or for businesses which have been trading for up to six months.
This fund offers help with consultancy support, product and process development and areas such as financial planning, market research, mentoring and consultancy support.
The Innovation, Advice and Guidance Fund is available to businesses considering ways to innovate and remain competitive. Whether it’s developing a new product or process, or evolving an existing one – clearly innovative ideas and products help a business grow, stand out from the crowd and improves your efficiency.
Looking for innovative solutions is a direct route to reducing costs, boosting market share and seeing profits rise.
For those firms looking for funding there are a number of factors which will affect eligibility including location, size, industry sector and what the finance is to be used for.
So anyone with the germ of an idea or established firms looking to grow, it’s essential to get in touch as soon as possible to find out if you are eligible. Call 0845 600 9 006 or visit www.bl-ne.co.uk
The Business Link service is part financed by the European Regional Development Fund (ERDF) and is delivered in the North East by the Business & Enterprise Group.
:: Hina Joshi, business advisor for Business Link