The FUEL initiative starts with a roadshow in Newcastle next month
A Government Minister has backed a campaign starting in the North East to help SMEs find the right advice and become ‘investor ready’. Small Business Minister Blair McDougall has backed the FUEL initiative being delivered by County Durham business support specialists UMi.
The programme, which starts with a roadshow in Newcastle next month before events around the country throughout the year, aims to help overcome the challenges faced by UK SMEs when trying to access finance to launch or grow.
The launch event will take place at the Grand Hotel at Gosforth Park on March 17. Experts will help North East companies identify what type of funding is right for them, how they can reach funding and investor-ready status, and discover who is actively looking to back businesses similar to their own.
More than 250 appointments have been scheduled for attendees and pre-matched funders to directly discuss support for companies’ individual requirements. Mr McDougall said: “Small businesses are the backbone of the economy in the North East with 170,000 of them employing over half a million workers.
“However, too many still lack the finance to unlock their full potential to create jobs, opportunities, and growth. This is why we are increasing access to finance across the UK through the British Business Bank, and why roadshows like these are so important, providing businesses with the right knowledge, guidance, and expertise they need to grow.”
Since 2007, UMi – formerly called BE Group – has supported thousands of growing UK businesses including start-ups, scale-ups and larger, established firms. It has helped companies unlock £1bn of investment including grants, loans and private sector investment.
The FUEL roadshows are being backed by NatWest, Purbeck Insurance, CBI and British Business Bank. Later events will take place in Edinburgh, Yorkshire, Wales, Liverpool, the Midlands and the South East.
UMi CEO Nicki Clark said: “FUEL has been designed so business owners up and down the country can have access to everything they need in one place over the space of a few hours – by enabling visitors to have direct, tailored, one to one conversations with investors, advisors and industry figures, they can go away confident in the knowledge that they are on the right path and take the next steps to successfully access finance for their business.
“Too many brilliant businesses are held back by complexity, jargon and missed opportunities, and despite the UK having a world-class financial services sector, many SMEs face persistent and quantifiable barriers to securing finance to survive and thrive.
“FUEL isn’t a typical ‘trade expo’ but more so ‘get it done’ workshops and meetings where those delivering ambitious growth plans, overcoming cash flow challenges, or diversifying, can get the support they need.”
More details on the initiative are available at www.fuelroadshow.co.uk.








