Government Announces £20m COVID Recovery Fund for England's Small Firms

Government Announces £20m COVID Recovery Fund for England's Small Firms

Thursday, 30 July, 2020

This scheme will distribute £20 million of new government funding to help England’s smaller businesses recover from the effects of the coronavirus (COVID-19) pandemic.

Funding will be allocated to Growth Hubs within each Local Enterprise Partnership (LEP), with a minimum of £250,000 for all LEP areas.

Small and medium-sized businesses (SMEs) will be awarded grants of between £1,000 and £5,000 to help them access new technology and other equipment as well as professional, legal, financial or other advice to help them get back on track.

The support is fully funded by the Government with no obligation for businesses to contribute financially.

The funding is being provided to address immediate needs and all grants must be awarded by 28 February 2021 and all activity fully completed by 31 March 2021.

Eligible businesses are advised to contact their local Growth Hub for details of how to access support through the scheme.

Website and contact information for each Growth Hub can be accessed via The LEP Network

The scheme is yet to open to applications Further details on the eligibility process and claims system will be provided imminently.

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