Small Business Recovery Grants worth up to £5,000
Depending on location, Government has made available £20m in extra grant funding for small and medium sized businesses worth between £1,000 & £5,000.
The non-contributory grant is aimed at smaller businesses in England to help them recover from the effects of the coronavirus pandemic. Eligible applicants will use the funding to adapt their businesses and focus on revenue-based activities.
The grants will be distributed by Growth Hubs across England, with each Hub allocating a minimum of £250,000. Find your Growth Hub here
Who can apply for a Small Business Recovery Grant?
SME businesses operating in England. The business can be a sole trader, partnership or limited company. For Worcestershire, Small Business Grant SME definition is:
- Between 1 & 10 employees
- Commenced trading before 1st March 2020
- Experienced disruption due to Covid 19
- Either annual turnover is less than 50m Euros or annual balance sheet total is less than 43m Euros
There are also restrictions around the voting rights to be eligible for the grant.
What does the grant cover?
Broadly, the grant is available to cover costs which generate revenue, including:
- Purchase of minor equipment to adapt or adopt new technology
- Professional service costs such as website consultancy, graphic design, marketing, accountancy and legal costs
The grant is fully funded by the Government and there is no obligation for the business to pay it back.
How to apply for a Grant
Application is via your Growth Hub. Worcestershire businesses should register an interest and are then sent an application form.
When is the deadline?
Friday 18th September 2020 at 17:00.
Funding is limited and given the current climate, we are urging businesses not to delay in their applications.
Our team are here to help you through this challenging time and answer your queries. Please get in touch on 01527 558539 or email [email protected]