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£50,000 grants to help businesses as they continue to bounce back from Covid

4 October 2021

£50,000 grants to help businesses as they continue to bounce back from Covid £50,000 grants to help businesses as they continue to bounce back from Covid

A new round of match funding is currently available for businesses looking to invest in new technologies, plant equipment, machinery, or fixtures, designed to help businesses create employment opportunities.

The Recovery and Resilience Grant Scheme, which reopens for Expressions of Interest at 10am on 4 October 2021, supports businesses in the South East Midlands looking for ways to recover from the economic impact of lockdown and strengthen business performance through capital funding.

Grants of between £5,000 and £50,000 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.

The grants cover a maximum of 50% of the total price of a project and are designed to aid future recovery and as such there is a requirement for businesses to plan for jobs to be created as a result. As a guide, businesses are expected to create one job per £10,000 of grant.

Interested businesses will be asked to fill in an Expression of Interest on the SEMLEP’s Growth Hub website to determine eligibility for the grant. Following an initial response, they will then be offered a one-to-one consultation with a Business Adviser to work through their application.

Hilary Chipping, Chief Executive SEMLEP said, “It’s still a very uncertain time for many businesses, so it’s wonderful to be able to give businesses access to funding that will encourage them to make capital investments. This will not only help accelerate the short-term recovery of the local economy, but lay the foundations for long-lasting, sustainable growth.”

Amanda O’Donoghue, Growth Hub Project Manager said, “This programme is such a great opportunity for us to really make a difference for businesses in our area. It’s fantastic seeing the passion and ingenuity that local businesses bring to us, and I’m proud to be able to provide the funding that will help make their plans a reality.”

Expressions of Interest will close at 10am, 18 October, but SEMLEP’s Growth Hub reserves the right to close them early depending on levels of interest.

The deadline for completed applications is midnight, 28 November 2021. For more information about the scheme, or to speak to a Business Adviser, visit the SEMLEP’s Growth Hub website, www.semlepgrowthhub.com/recovery-and-resilience-grants/ or call 0300 01234 35.

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