The Durham Business Growth and Productivity Programme is a comprehensive initiative designed to elevate productivity and foster growth within businesses located in County Durham. This strategic undertaking is dedicated to not only creating a robust economic environment but also ensuring the creation of quality employment opportunities, all within the framework of an inclusive and sustainable green economy. Operating from September 2023 to March 2025, this programme represents a pivotal period for businesses seeking to thrive and contribute to the regional economic landscape.
Funding and Support Mechanism
At the heart of the Durham Business Growth and Productivity Programme lies the UK Shared Prosperity Fund (UKSPF), a crucial financial instrument that provides the necessary funding, support, and advisory services. This fund is instrumental in enabling businesses to access the resources and expertise required to realize their growth potential and enhance their productivity.
Key Interventions
The programme's interventions are strategically structured to address the diverse needs of businesses and promote sustainable growth. These key interventions encompass:
1. Business Engagement and Action Plans:
A vital first step involves active engagement with businesses to discern their specific needs. This initial phase lays the groundwork for creating actionable plans tailored to each business's unique circumstances.
2. Productivity Support:
The programme offers a range of interventions and specialized programmes designed to enhance productivity. These initiatives are geared towards optimizing operations and maximizing output, ensuring businesses operate at their highest potential.
3. Business Grants Programme:
Recognizing the importance of financial support, the programme features a Business Grants Programme. This initiative provides businesses with the means to invest in growth projects and implement enhancements that directly contribute to heightened productivity.
Collaborative Delivery
The Durham Business Growth and Productivity Programme is a joint effort, delivered in partnership by Business Durham, UMi, and RTC North. This collaborative approach ensures businesses have access to a wealth of expertise, resources, and support to effectively execute their growth strategies.
The Durham Business Growth and Productivity Programme, backed by the UK Shared Prosperity Fund, represents a golden opportunity for businesses in County Durham. Through targeted interventions and grant opportunities, businesses can embark on a transformative journey towards heightened productivity and sustainable growth. This initiative exemplifies a commitment to empowering businesses, fostering a resilient economy, and creating a brighter future for the region.