Tyneside council launches fund to aid business recovery post-lockdown

A North East council has launched a new fund to support the recovery of businesses in the region.

North Tyneside Council has launched its Capacity Fund in response to Covid-19, with funding secured through the North of Tyne Combined Authority.

The funds will be used to support the measures the council is introducing to support the recovery of the borough and businesses, and ensure the safety of residents.

Manufacturing businesses working on products for the NHS Supply Chain directly linked to Covid-19, which are unable to access NHS Supplier Relief funds, can apply for funding through the new grant scheme.

Councillor Bruce Pickard, deputy mayor and cabinet member for Business and Economic Development, said: “We are absolutely committed to ensuring North Tyneside not only recovers from the impacts of this dreadful virus but comes back even stronger and continues to be a great place to live, work and visit.

“That’s why we have a clear plan to aid recovery by providing funding and introducing new measures and initiatives to support businesses and residents who need help to get back on their feet while ensuring the safety of everyone.”

Norma Redfearn CBE, elected mayor of North Tyneside, added: “I am delighted to see all the work being done as part of the recovery plan and I’m sure the new Capacity Fund will bring a great deal of benefits to those who need it most.”

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