Business recovery project fund launched

Hinckley & Bosworth Borough Council has launched a business recovery project fund to target match funded grants to help to small businesses and help them to recover from the impacts they may have faced or are still facing, from the pandemic.

The fund prioritises independent business (including retail), tourism and hospitality business and creative industry and is designed to help toward the costs of investing in new equipment or other capital expenditure to aid their recovery. Other independent businesses that can demonstrate they have suffered severe hardship as a result of the pandemic are also welcome to apply.

Suitable projects might include new equipment or machinery, building a new website, investing in new products and e-commerce such as contactless payment technology or permanent fixtures and fittings to support social distancing such as an awning for a café or restaurant to support alfresco dining.

The grants available range from £1,000 and £15,000 and the scheme will provide 50{ef1beab3447d5cb220c3619d9fa65ddc127cf119fcf53b8ba61e2dc5c4a7776f} grant support with the applicant providing the other 50{ef1beab3447d5cb220c3619d9fa65ddc127cf119fcf53b8ba61e2dc5c4a7776f} as match funding. This grant scheme is funded through the government’s Additional Restrictions Grant. The council’s initial allocation of £300,000 is for the period to the end of March 2022 or until funds run out.

Businesses should be able to demonstrate their recovery project will safeguard jobs and ideally create new ones.

Leader of the Council, Councillor Stuart Bray said: “We recognise local businesses has been severely impacted by the pandemic and many may need to adapt and change to survive. This grant is available to support our local businesses in implementing a recovery project enabling them to them get back on their feet and grow sustainably.” 

For the full guidance and details on how to apply visit business recovery project fund