Business grants from £1,000 to £3,000 are available
What is the grant available for?
This grant is available to those businesses who can demonstrate they have been adversely affected by COVID19 and their investment is related to the recovery of the impacts from COVID19 on their business.
To qualify for these grants please see below some COVID19 related examples that could be considered:
- 1-2-1 specialist advice which SMEs could call on to address their immediate needs in response to the impact of COVID 19 e.g. HR, accountants, legal, financial, H&S, IT / digital or sector specialists, targeted marketing etc.; and / or
- purchase of minor equipment to adapt business processes, e.g., minor building works, equipment to deliver productivity improvements such as process controls, line cameras, new tooling, wash station, handsfree thermometer; or
- to adopt new technology in order to continue to deliver business activity or diversify in response to COVID 19 – ecommerce platforms, contactless payment systems, website developments such as e commerce systems, software development, IT hardware and software to support remote working.
Please see below examples of what cannot be funded through this scheme:
- purchase of “standard” office information technology equipment such as laptops, or PC’s unless this has been highlighted as a requirement to enable remote working;
- ongoing normal business costs (i.e. business rates, overheads, basic equipment and tools required to undertake the economic activity etc.);
- costs associated with a statutory requirement for the business;
- any costs that have already been incurred prior to receiving the Grant approval.
The total value of the grant pot available is £568,000. Please be mindful that there will be huge interest in these grants, once the funding has been allocated applications will be closed.
This grant will fund revenue only projects.
Percentage of project cost
The minimum grant is £1,000 and maximum grant is £3,000 100% funded. Should the business investment be above this value, remaining costs will need to be funded through the businesses own means.
For the project costs, 3 quotes will be required for purchases. If SME’s are looking to purchase multiple items from a supplier these can be amalgamated within the same quote.
Any eligibility criteria
In order to access this grant, the SME’s must clearly demonstrate the impact of Covid-19 on their business and how the proposed activity will help address this impact for their business.
Your business must also be eligible for ERDF Funding – i.e.,
1. An SME as defined by the EU definition. This means your company or group of companies must have:
- Fewer than 250 employees
- A turnover less than or equal to €50 million OR
- A balance sheet total less than or equal to €43 million
2.An SME must also:
- Be trading for 12 months or more
- Be located in Leicester or Leicestershire
3. Businesses operating mainly in the following sectors are unfortunately not eligible:
- Financial Services, banking and insurance
- Coal, steel and shipbuilding
- Fishery and Aquaculture
- Agricultural products
- Synthetic fibres sector
- Establishments providing generalised (school age) education
- Local social welfare facilities e.g. hospitals, nursing homes, day nurseries, child minding facilities, sports facilities, parks
- Coastal protection, soil conservation and infrastructures
- Building and renovation of housing
Applications will be open until 30th September 2020 unless the funding allocation is committed prior to this date. Completion of an application form is not a guarantee funding will be awarded.
Applications will be assessed on 1st come 1st served basis, based on eligibility, fit to the funding criteria and submission of fully completed application form with supporting documentation (including 3 quotes for purchases)
Support for businesses to apply
The Business Gateway Growth Hub is offering free webinars on ‘How to submit a successful grant application’ to support businesses that are not familiar with the process of applying for a grant. Webinars are planned for: