Stockport Council has today announced plans to boost recovery for local businesses to the tune of £3.2 million, as they start to re-open as national restrictions are eased.
The Economic Recovery Fund will see a series of Additional Restrictions Grant streams that can be applied for, depending on eligibility, as well as the opportunity for local areas to bid for funding to stimulate footfall and encourage customers to ‘shop local’ and support business in their area.
Cllr David Meller, Cabinet Member for Economy and Regeneration at Stockport Council, said:
The last year has been devastating for our business community and we are well aware of the impact this has had on them. We want to do everything we can to ensure businesses are supported as we start to open up and I am thrilled that we can allocate £3.2m to support this. I urge you to have a look at the packages of support available and the qualifying criteria, details of which will be released next week.
“This is in addition to the grant funding that that has already been allocated to local businesses and, although the last year has been challenging, I am confident that there are brighter times ahead. We are here to help as you navigate your way through the next few months and beyond.”
Five streams will be available under the Economic Recovery Fund scheme:
- Stockport Economic Recovery Boost Grant:
The fund will help over 260 closed businesses in April, May and June that are currently being supported through the ARG funding, to reopen and begin trading - Stockport Economic Recovery Market Place and Underbanks, Trader Independent Retailer Boost Grant:
to help the smaller, independent retail and market traders to reopen their businesses. This is a one-off fixed payment of £3,000 - Stockport Economic Recovery Hospitality Sector Boost Grant:
This is a one-off fixed grant of £5,000 to support the reopening and restarting of Stockport businesses in the hospitality sector - Stockport Economic Recovery Covid Capital Grant:
businesses can apply for a grant to make changes to premises and/or to buy additional kit to support reopening and operating in a Covid-secure way. - Stockport Economic Recovery Locality Boost Grant:
Trading associations or an equivalent body from Stockport’s District Centres can apply for a grant to run events that will drive local footfall into their local areas, increasing customer numbers and supporting local businesses as they reopen. In the town centre, Totally Stockport, the BID, will apply for funding on behalf of town centre businesses. There will be one application and one pot of funding per locality.
Any remaining funds will be used as contingency to cover additional applications for the main ARG scheme up to 30th April; to cover any additional funding requirements set out under the five streams above and to assist any emerging businesses that require funding.
More information on the grant schemes, eligibility and how to apply will be published on the Council’s website next week, as well as through the Council’s usual communications channels.
In response to the impact of Covid-19, to date, the Council had already allocated support for economic recovery and also delivered a business rates related scheme of around £20 million to 9,311 businesses, as well £3.4 million paid to 957 businesses in the form of discretionary grants. Businesses have also been able to take advantage of a number of business support measures, including seminars, webcasts, workshops, peer support and practical advice.
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