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Applications for SME Recovery Grants

Since the pandemic, the Gloucestershire Growth Hub has been working hard to provide direct, fully funded support to businesses who are working through the impacts of Covid-19 and who are now looking towards recovery as the county starts to get back to business.

Grants will be fully funded by the government from the England European Regional Development Fund and distributed through The Growth Hub.

The Growth Hub has decided to split their allocation with a maximum grant of £3,000 and the minimum is £1,000, which can cover small equipment and/or expert advice. There are two grants available – one is for Hospitality and Tourism businesses, the other for any business (excluding Agriculture and certain other industries which do not qualify). Businesses must fall under the SME definition (less than 250 employees and less than 50m turnover) and have started trading before 1st March 2020.  They must be able to demonstrate the impact of Covid-19 and show how the grant allocation will support recovery plans.

Our Business Recovery Packages

We are offering a choice of business advisory package which can be fully funded by the £3,000 grant:

  1. Development of a 12-month strategic plan and implementation support to 31 January 2021.
  2. Preparation of a full financial Forecast (P&L, B/Sht and CF) to assist with Cashflow planning and raising finance
  3. Please contact us to discuss a bespoke package for your business

Applications are open on Monday 28 September on a first come first served basis.

Applications will be rejected if not complete and this means including a quote for the goods or services (and best practice is that 3 quotes should be included, although arguably you will want to use your existing accountant to do the financials). Businesses need to have everything including quotes lined up by Monday as incomplete applications will have to be resubmitted and will go to the bottom of the pile.

They will stop accepting applications at 200 with a view to paying 150 grants.

The business must be based in Gloucestershire although LEPS around the country are offering the same scheme, so just a case of finding the right one if outside the county.

For full details and FAQs please visit The Growth Hub page: https://www.thegrowthhub.biz/grants

Will Abbott is head of Business Advisory and will happily talk you through the advisory packages detailed above, call 01242 776000 or email will.abbott@randall-payne.co.uk

 

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