What is the new Scheme?
The Government has unveiled plans to assist SME’s recover from the Coronavirus pandemic in the form of grants worth £20 million. The funding was announced on Thursday (July 30) by Simon Clarke MP, Minister for Regional Growth and Local Government. Grants will be fully funded by the government from the England European Regional Development Fund (ERDF) and distributed through growth hubs.
The Grants will be between £1k and £3k (with the possibility of up to £5k for exceptional circumstances) and are available to SME’s who can demonstrate they have been adversely affected during the pandemic (COVID).
What can it be used for?
There is no obligation from the business and the grants are fully funded by the Government, the grants can be used for specialist business advice in the form of HR, this is an area with so much going on and an investment not to be missed or to perhaps adapt to or adopt new technology to improve performance, the overall aim is to aid recovery.
This announcement builds further on the £10 million package which was announced earlier this month to help to kickstart the tourism industry and support the visitor economy. The Grants are limited so do not delay registering your interest.
How do I get the Grant?
The funding has been allocated to the local Growth Hubs already, some areas are still yet to define how the Grants will be allocated. In the Lancashire area this will be Boost.
If you are based in Lancashire you can contact Boost to signal your interest in receiving a share of the Government’s £20m grant funding to help you get back on track following the coronavirus pandemic. You can use this funding to Outsource your HR and with so much going on in this area it is an investment not to be missed. Funding for both grants will be delivered in Lancashire from September and Boost is currently in the process of developing a formal application system.
If you are a business based in Lancashire you can now register your interest in both grants via the contact page on the Boost website. you will then be contacted in due course to progress your application if you are eligible.
Where are the Funding Allocations across the UK?
If you are based outside of Lancashire the funding allocations are below:
Local Enterprise Partnerships
Buckinghamshire Thames Valley
|Cheshire and Warrington||£391,240||196|
|Coast to Capital||£250,000||125|
|Cornwall and Isles of Scilly||£500,000||250|
|Coventry and Warwickshire||£337,369||169|
|Derby, Derbyshire, Nottingham and Nottinghamshire||£720,398||360|
|Greater Birmingham and Solihull||£731,277||366|
|Greater Cambridge and Greater Peterborough||£250,000||125|
|Heart of the South West||£423,544||212|
|Leeds City Region||£972,127||486|
|Leicester and Leicestershire||£408,785||204|
|Liverpool City Region||£839,517||420|
|Sheffield City Region||£845,623||423|
|South East Midlands||£496,004||248|
|Stoke-on-Trent and Staffordshire||£651,960||326|
|Swindon and Wiltshire||£250,000||125|
|Thames Valley Berkshire||£250,000||125|
|West of England||£250,000||125|
|York and North Yorkshire||£250,000||125|
What are the Deadlines?
- All grants must be awarded by 28 February 2021 and all activity fully completed by 31 March 2021.
- Ineligible sectors include fishery and aquaculture, primary production (e.g farming) processing and marketing of agricultural products, the coal, steel and shipbuilding sectors, synthetic fibres sector, establishments providing generalised (school age) education, banking and insurance companies/brokers and nuclear related activity
We know that COVID pandemic has presented businesses with an amazing opportunity and possibly one that will transform your business, you have the opportunity to identify your goals, structure your business how you want it to be in the future without the constraints of the past that probably did not work, you will have become more resilient than you even know it over the past 5 months, we can get you in a position to become productive, profitable and achieve the goals you want for the future.
We are HR and You and we believe your people drive your business, happy, thriving people, this in turn means you will be the best you can be.
You can access the funding for HR Outsourcing so why not invest in your PEOPLE…in turn this means your business too.
Take a look at our website today, we work for you:
https://hrandyou.co.uk/ or call us on 01254 467156