New Recovery and Resilience grants of up to £50,000 available to local businesses

New match funding is available for businesses to invest in new technologies, plant equipment, machinery or premises growth, helping businesses create employment opportunities.

An additional £1.44million of funding will support businesses in the South East Midlands looking for ways to recover from the economic impact of lockdown and strengthen business performance through capital funding.

Delivered by SEMLEP’s Growth Hub, and part-funded by the Getting Building Fund and the European Regional Development Fund (ERDF), the grants are designed to build business resilience by supporting investment projects that will create a significant, positive impact on the business’ future.

Yvette Lamidey, Chair of SEMLEP’s Growth Hub said, “We still have a long way to go to achieve the stabilise phase in many sectors, but this matched funding opportunity will give businesses the chance to start working towards greater stabilisation and growth.”

The Recovery and Resilience Grants can cover a maximum of 50% of the total cost of the proposed investment, with the business matching the funding provided.

Interested businesses will be asked to fill in an Expression of Interest on SEMLEP’s Growth Hub website to determine eligibility for the grant and following an initial response will be offered a 1-2-1 with a Business Adviser to work through their application.

The first deadline for applications is Thursday 28^th January 2021.

Hilary Chipping, Chief Executive SEMLEP said, “We recognise that many businesses still face much uncertainty and as a result may be holding off making capital investment decisions. This grant funding is available to help businesses balance risk at this time whilst, at the same time accelerate the recovery of our local economies to secure our longer-term economic future.”

To find out more and to register interest businesses are encouraged to visit the Recovery and Resilience webpage here.