Published: Wednesday, 13th October 2021
A new grant scheme has been launched to further support businesses that are looking at ways to recover and strengthen their business performance following Covid-19 and ‘build back better.’
Since the start of the coronavirus pandemic the borough council has paid out over £77m in grants to support west Norfolk businesses.
New Anglia Local Enterprise Partnership is to operate the scheme on behalf of the borough council following a successful pilot scheme in the summer. Cllr Stuart Dark MBE, Leader of the Borough Council of King's Lynn & West Norfolk and Board member of the New Anglia LEP explains: “There is a limited pot of funding available to support west Norfolk companies, so we’re looking for businesses to bring forward investment projects that will have a significant impact on their business.”
Grants of between £2,500 to £25,000 are available to businesses in the borough to put towards up to 75% of capital and revenue costs involved in resilience, future recovery and growth of the business, but the projects must be completed by 28 February 2022.
Successful applicants must be able to demonstrate:
- How they have been impacted by COVID-19.
- What they need to invest in.
- How this will enable them to respond to the impact and grow.
- How this will improve the sustainability of the business operation, minimise the environmental impact and, where possible, support the aim towards 'net zero.'
Cllr Dark added: “This discretionary scheme also includes help for businesses which, while not legally forced to close, are nonetheless severely impacted by the restrictions put in place to control the spread of Covid-19. This includes businesses which supply the retail, hospitality, and leisure sectors, and businesses in the events sector.
“We'll also consider businesses outside the business rates system that can demonstrate their income and business activity has been impacted by the restrictions. Grant applications will be considered on a first-come, first-served basis.”
C-J Green, Chair of New Anglia Local Enterprise Partnership, said: “It is vital we continue to give businesses as much support as we can as they recover from the impact of the pandemic. Importantly, these discretionary grants will be available to companies outside the business rates system and those in sectors most heavily affected by Covid restrictions, such retail and hospitality, but which are so important to our economy.”
Businesses wishing to apply for the ‘Planning for the Future’ grant should contact the New Anglia Growth Hub on 0300 333 6536 or email growthhub@newangliagrowthhub.co.uk