A NEW business start-up scheme aimed at creating up to 900 new jobs has been launched in the North East.
The Ready for Business programme has been established after a £15million investment from the Regional Growth Fund (RGF) and will be managed in the region by enterprise agency Tedco.
The scheme aims to see more than 500 businesses start up in Sunderland and the rest of the North East, as well as creating more than 300 jobs in existing business.
The news has been welcomed as “fantastic” by Tedco chief executive Doug Scott.
He said his agency was “incredibly proud” to have won the landmark job creation programme. Cash will now be ploughed into areas like Wearside to help boost the economy by creating more business entrepreneurs.
It is hoped Ready for Business will create 6,000 businesses and up to 10,000 jobs across the country.
Mr Scott, for Tedco, which has business centres Boldon and South Shields, said: “It is fantastic that we will now be able to increase our reach through this new RGF-funded programme, using our proven expertise to offer a unique and dedicated support package to a large number of future start-ups.
“With the commitment made to this programme, Government has demonstrated the value it places on start-up businesses and the role they play in business growth.
“We are incredibly proud to have been successful in our bid to support additional start-ups through the development of this new programme.”
Small business start-ups are seen as an essential tool in the fight against economic stagnation.
The national scheme, which is backed by Barclays Bank, will target the transfer of public sector employment to the private sector.
The new package of start-up support will include one-to-one advice, mentoring, access to financial support and business planning.