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The north-east of Englands development agency is to provide extra funding to benefit entrepreneurs in the region.
One NorthEast has approved an extra grant of £1.9 million, to be used over the next three years to expand the activities of the regions Entrepreneurs Forum.
Ian Williams, One NorthEasts director of business and industry, said: "We have many successful entrepreneurs in the North East who are extremely well-placed to inspire others and willing to give their time and energy to offer coaching and guidance to those who are just starting out.
"We have to make the most of that valuable resource, which is the equivalent of significant private sector investment for the region."
The funding is set to be spread over three years and will be used to support a number of different initiatives to encourage company formation and success.
These will include the development of the Entrepreneurs Forums mentoring programme, which links those with business start-up aspirations to experienced business bosses who can offer advice and support.
Carole Beverley, chief executive of the Entrepreneurs Forum commented: "There is no better way to learn than from those who have been there and done it.
"After all, success as they say, breeds success."
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