Newcastle businesses receive £1.7m cash boost
Budding businesses in Newcastle have received a £1.7m funding boost.
The money will be used to develop new business ideas in deprived parts of the city and help existing businesses.
The money is coming from Newcastle City Council and the European Regional Development Fund and will help some of most deprived areas of the city.
Leader of Newcastle City Council, Councillor Nick Forbes, said creating jobs for local people was its "top priority".
The Enterprising Newcastle fund will be used to develop businesses in schools and in the community and voluntary sector and help existing small businesses to win new markets and contracts.
It will also help businesses ideas among residents in Walker, Byker, Scotswood and Elswick and other more deprived parts of the city.
Mr Forbes, said: "Creating jobs for local people is the council's top priority - it's absolutely vital at a time when we have so many people, especially young people, out of work.
"It will be used to help turn good business ideas into reality and is a sign of the council's commitment and recognition for the work we are doing to support families and businesses in these difficult times."
The council's contribution is made up of £500,000 in cash and £300,000 in one-to-one officer time and support.