£20million in New Grants to Boost Recovery of Small Businesses
As part of the Government’s continuing appraisal of the impact of COVID-19, the Minister for Regional Growth and Local Government, Simon Clarke MP, has announced £20 million of new funding to help businesses across England get back on track.
Small and medium sized businesses will have access to grants of between £1,000 – £5,000. These grants will be available to help businesses access services and equipment to help them adapt, recover and move on from the effects of the coronavirus pandemic. Grants will be available to access specialist professional advice such as accountants, HR, legal, financial, IT and digital, and to purchase minor equipment to adapt or adopt new technology.
The funding has been allocated to local Growth Hubs (or associated projects) which work across the country with local and national, public and private sector partners, co-ordinating local business support and connecting businesses to the right help for their needs. 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.
You can find the website of your local Growth Hub here. Select the area name your business is in to take you to the correct website. Local areas include:
The grants are not yet available and local Growth Hubs will be updating their websites with further updates. On each local Growth Hub website there are blogs for these new grants, and you can subscribe to their newsletters to get updates as they become available.
A UK Government business support website can be found here. It contains guidance on all Coronavirus financial measures and business advice.
A UK Government general COVID-19 support website can be found here. It contains guidance on all matters pertaining to the Coronavirus.