North East England has led the way in publicly backed investment funds to support SMEs. North East Access to Finance oversees the returns from financial instruments in the region supported by European Regional Development funding and the UK Government.
We are working with Local Enterprise Partnerships and funders to re-deploy these returns, with appropriate match funding, so that they can benefit the next generation of North East businesses. These new initiatives – including the recently announced North East Fund – will replace the Finance for Business North East (‘JEREMIE’) fund from early 2017.
We commissioned research three years ago into the impact of publicly backed investment funds on SMEs accessing finance. This led to our Strategic Recommendations, published in June 2013, which have underpinned the development of the funds now going live.