Coronavirus (Covid-19) - new grants to boost recovery of small businesses

£30 million new funding to help smaller businesses recover from the effects of the coronavirus pandemic.

COVID-19

Following the government announcement on 30 July has promised £20 million of new funding to help businesses across England get back on track. This is aimed at small and medium sized businesses (SME) in England who can now access grants between £1,000 - £5,000 for new equipment and technology and specialist advice.
 

This is in addition to the £10m for support to the Visitor economy which was announced on 3 July.
 

Support to SMEs

On 30 July, the Government announced £20 million in new funding to support small and medium sized businesses in England.

· Activities supported through the £20 million grant can include:

  • one-to-many events providing guidance to respond to coronavirus
  • small grants (£1,000 - £5,000) to:
    • to help businesses access specialist professional advice such as HR, accountants, legal, financial, IT and digital
    • purchase minor equipment to adapt or adopt new technology in order to continue to deliver business activity or diversify
       

How it works

There will be a number of conditions:

  • 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 basis, grants of up to £5,000 may be awarded
  • The funding has been allocated to Growth Hubs within each LEP area in line with the current European Regional Development Fund Programme
  • 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
     

How to apply

To apply and find out more you'll need to contact the Best Growth Hub

 

Kick Start Tourism package

On 3 July, the government announced £10 million in new funding to boost tourism in England.

The funding will be allocated to local Growth Hubs based on how much of their employment base is linked to tourism and hospitality businesses.
 

How it works

Activities supported through the £10 million grant can include:

  • one-to-many events providing guidance to respond to coronavirus
  • small grants (£1,000 - £5,000) to:
    • help businesses access specialist professional advice e.g. human resources, accountants, legal, financial, IT / digital
    • purchase minor equipment to adapt or adopt new technology 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 basis, grants of up to £5,000 may be awarded.
 

How to apply

To apply and find out more you'll need to contact the Best Growth Hub

 

The above £30m is in addition to the £20m being made available to help SMEs improve their leadership and problem solving skills, through the Small Business Leadership Programme and the Peer Networks Programme.