If you’ve been thinking about investing in market research but have been weighing up the cost, this could be the opportunity you’ve been waiting for.
The latest phase of the NBSL North of Tyne Business Support Fund is now available, offering businesses across the region the chance to access up to 50% funding towards external support projects.
For many organisations, it’s a practical way to move plans forward faster, with less financial risk. In our latest blog, we look at the eligibility for businesses taking part, the process and what is can be used for.
What does the fund cover?
The fund is designed to help businesses grow by bringing in external expertise, this includes projects focused on improving performance, developing strategy and strengthening your market position.
Eligible projects typically range between £3,000 and £8,000, with up to half of the cost covered through funding. That makes activities like market research, customer insight studies and strategic planning far more accessible.
Who is eligible?
The fund is open to a wide range of small and medium-sized businesses. You may be eligible if you:
- Are an SME with fewer than 250 employees
- Are based in Newcastle, North Tyneside, or Northumberland
- Are actively trading and generating revenue
- Can demonstrate a clear ambition for growth (such as creating or safeguarding jobs)
- Are able to pay for the project upfront before claiming the grant (as funding is provided retrospectively)
It’s also open to some social enterprises and third sector organisations, provided they meet the criteria. As with most funding programmes, there are some exclusions, so it’s always worth checking the full details before applying.
Why invest in market research?
While funding can be used for a range of business improvement projects, market research is one of the most powerful ways to create long-term value.
It helps you move beyond assumptions and base decisions on real evidence, whether that’s understanding your customers better, testing a new idea or exploring opportunities in a new market.
With the right insight, you can:
- Make more confident strategic decisions
- Reduce the risk of launching something new
- Identify opportunities for growth
- Strengthen your positioning in a competitive market
In short, it gives you clarity and that’s invaluable when you’re planning your next move.
Making the most of the opportunity
As a registered provider with NBSL, MMC Research works with businesses to deliver insight projects that align with the fund’s objectives and create meaningful impact.
Funding like this doesn’t come around often and when it does, demand is usually high. Using it to invest in research now can help set a stronger foundation for future growth.
If you’re considering applying or simply want to explore how market research could support your plans, we’re always happy to have an informal conversation.