Partner Article

From the ashes of disaster

AROUND 50 new SMEs have been launched on Teesside thanks to a fund set up by Corus-subsidiary UK Steel Enterprise in the wake of the mothballing of Teesside Cast Products.

The £300,000 Regeneration Fund - part of UK Steel Enterprise’s (UKSE) £8.3m package of support for the struggling industry - offered small loans and grants to budding entrepreneurs.

Just three weeks after the fund’s launch in early March, a dozen new Teesside businesses had already been born, with this figure passing the 25 mark in April.

There are now more than double that amount of enterprises – half of which were started by former Corus workers or others directly affected by the mothballing.

Organisers say the number is growing daily as new applications are approved and a handful of existing small businesses affected have also had support.

The businesses range from asbestos removal, home and garden maintenance, photography, web services, a mobile bar, plumbing, a bistro and a car parts manufacture.

John Buckton, who lives in Redcar, was made redundant after 38 years in the steel industry and has now set up M-and-D Health & Safety Consultants using the skills and qualifications he obtained at Corus.

He said: “It is a challenge to start again when you have worked for the same company for so long.

“Businesses including training companies, restaurants and small and medium sized manufacturers are already using my services and I am confident that there is a market out there for me.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .