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New businesses in Tyneside given a boost

Feb 23 2009

Over 1,500 people in disadvantaged areas of Tyneside will be given £1.5 million of funding and advice over the next three years to help them set up new companies.

The joint initiative from the European Regional Development Fund, One North East and North Tyneside Council will help potential entrepreneurs who have new business ideas.

Drop-in sessions and workshops will also be run for participants, with mentoring allowing people to develop their ideas before putting them into action.

John Harrison, mayor of North Tyneside, says: 'The key aim of the whole project is to turn people's interest in self employment into viable business opportunities, as well as giving them the confidence, motivation and know-how to start up.'

He adds that the funding and support will be aimed at the most deprived communities in the area – Riverside, Wallsend, Chirton and Howdon.

Lesley Calder, head of European and skills strategy at One North East, says the scheme is in response to dropping business start-up rates in the area, which stand at 6.8 per cent, well below the national average of 9.4 per cent.

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