The North East of England is a hub for businesses, and there’s always something new happening in the region. Staying up to date with the latest business news is crucial for entrepreneurs, executives, and investors alike. We have curated the top five North East business stories that are making waves this week.
1. UK Gaming Firm Sumo Digital Acquires Pipeworks
Sumo Digital, one of the leading video game developers in the UK, has acquired Oregon-based game development studio Pipeworks. The acquisition is part of Sumo Digital’s expansion strategy to increase its capability to develop live games and extend its reach in the US market. With Pipeworks’ deep experience in interactive entertainment, the collaboration is set to create opportunities for growth and innovation, benefiting both companies.
2. Northumberland Brewery to Expand with New Funding
Durham Brewery has received £330,000 in funding from the North East Investment Fund to expand its capacity and create new jobs. The brewery, which produces beers, ales, and ciders, plans to build new production facilities, taprooms and retail shops. The expansion will generate up to 10 new jobs and support the growth of the local economy. Durham Brewery’s successful campaign to secure the funding was due to its strong reputation and continued growth over the past decade.
3. Newcastle Goods-to-Person Robotics Firm Bags $25M
Bossa Nova Robotics, Newcastle-based tech firm, has secured $25m in Series B funding to expand its business operations in the US. The company’s flagship product is the world’s first autonomous robot that can navigate a retail store’s aisles and perform visual audits of shelves. Bossa Nova’s customers include giants such as Walmart, Target, and Walgreens. The funding will enable the company to scale up operations and increase its footprint in the US market.
4. Third Consecutive Year of Growth for North East Manufacturer
Tees Components, a manufacturer based in Middlesbrough, has posted a third consecutive year of revenue growth, with sales exceeding £11m. The company’s managing director noted that diversifying the firm’s customer base and investing in new technology had helped Tees Components to achieve sustained growth. The company specializes in the design and production of bespoke engineering solutions, including the manufacture of engineered components for heavy industry applications.
5. North East Small Businesses Get Boost Through Digital Programme
The Growth Hub, a North East business support agency, has partnered with digital marketing agency Thump to launch a new digital program supporting small businesses in the region. The program offers a range of services, including website design, email marketing, social media management, and search engine optimization. Clark Willis Law Firm, an established North East law firm, has already signed up for the program, and more businesses are expected to join.
In conclusion, the North East continues to be a fertile ground for businesses this week. From gaming to breweries, robotics to engineering, these top five stories reflect the diverse and innovative ecosystem of North East businesses. Keeping an eye on the latest developments can help entrepreneurs stay ahead of the curve, make strategic investments, and unlock new opportunities.
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