BUSINESSES in the North will be amongst those to benefit from a new £6m scheme launched by UK Steel Enterprise.

The Equity Growth Fund will support businesses committed to expansion and sustainable employment in England’s steel regions and is backed by the government’s Regional Growth Fund (RGF).

A subsidiary of Tata Steel, UK Steel Enterprise is inviting applications from companies interested in accessing funds of up to £1m to help drive growth and deliver job opportunities within their local communities. The finance will be available to support a range of projects, which can include securing larger premises, investment in new equipment, new technology or to support working capital needs.

In this region, the scheme is available to businesses in the steel areas of Tees Valley, Derwentside and West Cumbria alongside those in South Yorkshire, Humberside, The Black Country, Stoke-on-Trent and Corby. .

This fund is the latest initiative from UK Steel Enterprise, which has helped more than 6,000 organisations to date, and continues the company’s tradition of investing in expanding businesses which can create jobs.

Businesses in Tees Valley, Derwentside and West Cumbria interested in the new Equity Growth Fund should contact Peter Taylor, Area Manager, UK Steel Enterprise on 01642 777 777 or email north@uksteelenterprise.co.uk