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East Midlands Chamber News

£750k cash pot to support county businesses

Leicestershire County Council has launched a brand-new fund to help businesses get back on their feet.

The £750,000 Leicestershire Business Recovery Fund is aimed at small businesses within the county to help them recover from the effects of the coronavirus pandemic. Applications can be made for grants between £2,000 and £10,000. Businesses can use the money to ensure their survival by, for instance, developing online selling and diversify into new product areas.

The initiative is run by the council and funded through money secured from the Leicester and Leicestershire Business Rates Pool.

Nick Rushton, leader of Leicestershire County Council, said: “Leicestershire’s business owners, entrepreneurs and local highstreets are having a really tough time. And we’re committed to helping them get back on their feet in any way we can, so that the economy of Leicestershire can continue to grow and prosper.

“I encourage all county businesses to look into whether this fund could benefit them. The county council is on the side of businesses and we are working hard to support them now and for their ongoing success and development.”

Grants are open to businesses with 50 employees or less. For the full information and how to apply visit: www.oakleaves.org.uk/leicestershire-business-recovery-fund.

Neil McGhee, Chair of the Business Gateway Growth Hub Board, said: “It is great to see this additional support for local businesses that have struggled to access the grant support already available.

“The Business Gateway Growth Hub has taken many enquiries from businesses that are looking for government support and are seeking help to survive. We are pleased to add this grant funding to the other finance and business support that we list on our website and would encourage eligible businesses to apply as soon as they can.”

All small businesses from every sector are encouraged to apply including those from the tourism, retail, agriculture, and creative sector. Businesses who apply will initially talk through their business plans with an advisor who will be able to assist with their application. There is currently no deadline for applications, but businesses should apply as soon as possible as funding will be allocated at a first come first served basis.