The Business Growth Hub has begun inviting small businesses to express their interest in applying for the recently announced Small Business Recovery Grant Scheme.
Announced by government in the last week of July, the Small Business Recovery Grants allow businesses to access between £1000 and £3000 grants for professional advice or new technology that will improve productivity or help the business recovery following the impact of the coronavirus pandemic. Grants of up to £5000 will be available in some exceptional circumstances.
Funds in Greater Manchester will be distributed by the Business Growth Hub who have said in a statement:
Following the recent announcement that the Ministry of Housing, Communities and Local Government (MHCLG) will be issuing European Regional Development Fund (ERDF) grants through the Growth Hub network, the Business Growth Hub is currently applying for Greater Manchester’s allocation which we believe will be agreed late August to early September.
We believe that the funding available will enable us to support around 400 eligible businesses across Greater Manchester who can demonstrate that they have been impacted by COVID 19 and can also demonstrate how the funding will support them to be more productive. Priority will be given to businesses in the Visitor Economy sector.
The Business Growth Hub is now inviting small businesses from across Greater Manchester to express their interest in applying for the scheme.
Grants are 100% funded but are subject to European Regional Development Fund compliance rules. Applicants will need to demonstrate:
- The client need in relation to COVID-19 impact and how the funding will enable them to be more productive
- That the client has received two like for like quotes for the support or equipment
- That they are able to pay for this themselves and then claim the money back from the project
- That they can demonstrate that the money has been spent through bank statement evidence before the Small Business Recovery Grant funding is released
Businesses wishing to express their interest in applying for a Small Business Recovery Grant can do so via the Business Growth Hub website.