£20 million in new grants to boost recovery of small businesses
Thousands of smaller businesses in England are set to benefit from £20 million of new government funding to help them recover from the effects of the coronavirus pandemic .
Small and medium sized businesses will have access to grants of between £1,000 – £5,000 to help them access professional, legal, financial or other advice as well as new technology to help them get back on track.
The support will be fully funded by the Government from the England European Regional Development Fund and distributed through Growth Hubs, embedded in local areas across England. There will be no obligation for businesses to contribute financially.
The activities which can be supported through the £20 million can include –
- One-to-many events providing guidance to respond to coronavirus
- Grants (£1,000 – £5,000) to help businesses access specialist professional advice such as HR, accountants, legal, financial, IT and digital, and to purchase minor equipment to adapt or adopt new technology in order to continue to deliver business activity or diversify.
The nature and value of grants awarded will be tailored to local circumstances, and will typically be up to £3,000. Under certain circumstances, and on a case by case bases, grants of up to £5,000 may be awarded.
The funding is being provided to address immediate needs and all grants must be awarded by 28 February 2021 and all activity fully completed by 31 March 2021.
The scheme is not yet open for applications, if you are in the Leeds City Region (which includes Bradford, Calderdale, Kirklees, Leeds, Wakefield, Barnsley, Craven, Harrogate, Selby and York) you can register your interest.
If you are not in the Leeds City Region you can locate your local area Growth Hub Here.