A grant funding scheme to help small and medium-sized businesses recover from the impact of the coronavirus pandemic has opened.
The European Regional Development Fund Programme will distribute grants of between £1,000 and £5,000 to small and medium-sized businesses to help with access to new technology and other equipment as well as professional, legal, financial or other advice to help businesses get back on track.
The scheme, allocated £20 million, is administered by the 38 growth hubs led by the Local Enterprise Partnerships (LEP) in the country, all awarded a minimum of £250,000 to get the programme rolling. To find your local area Growth Hub, visit lepnetwork.net/local-growth-hub-contacts/.
Dan Murphy, of Savills food and farming team, said: “While open to all small and medium-sized businesses, this grant funding is a good opportunity for farmers and rural business owners to invest in some relatively-low capital cost equipment or professional advice that could make a real difference as they recover from the impacts of Covid-19.”
Businesses will need to provide a quote for any work or purchases they intend to fund, and work must not have started on the project or goods purchased.
“To have the best chance of securing a grant, businesses should prepare now by researching their options and sourcing quotations to submit with their application as there is expected to be high demand,” Dan added.
More information: Dan Murphy, Savills food and farming team on 01722 426851.