Details about four new grant funds available for small business across Lincolnshire have been published, with hopes of helping them recover from the impacts of the pandemic.
These Lincolnshire grants come from a £12 million support package from Lincolnshire County Council and are thought to be a unique offer from any council in the country.
The grants are subject to the full council approval on Friday February 19.
The four grant schemes are as follows:
Business recovery fund
This grant is for small businesses who have not been able to access any of the government grants to date.
The fund will launch for applications from noon February 23 2021 until 11.59pm on February 25.
Digital voucher fund
This grant is for supporting businesses in improving their digitisation.
This could mean support for businesses wanting one to one digital advice, or new technology, including ecommerce platforms, contactless payment systems, website developments and more.
The minimum funding for amount for this is £1000 and the maximum funding amount is £5000.
The expression of interest window will be open between March 8 2021 and March 12 2021.
Application criteria on this is set to be published March 1.
Invest for the future grant
This grant is set up to contribute towards business expansion.
Types of project can incldue:
- New investment in property infrastructure
- Buildings and refurbishment costs
- Plant, machinery and equipment
- IT and new technology
The expression of interest window will be open between March 15 – March 26.
Application criteria for this grant will be published March 8.
Rural business grant
This grant is for businesses and organisations with projects specifically in rural areas.
Businesses can apply for between £3,000 and up to £25,000 grant towards a maximum of 75% of the total project cost.
Up to 5 expenditure items per grant application can be added, but the total grant cannot exceed £25,000.
The expression of interest window will be open between 8 March 2021 and 17 March 2021.
Application criteria is set to be published March 1.
At the meeting of the council’s Environment and Economy scrutiny committee, members praised the £12m support for small businesses for its innovation and fast response to the latest lockdown which has put further strain on local businesses.
Cllr Colin Davie, executive councillor for economy at the county council, said:
“We have been providing advice and guidance to Lincolnshire businesses throughout these times and helping them access national grants.”
“However, with many small businesses exhausting their cash reserves and not being eligible for government support, we have gone further than this in Lincolnshire, providing them with direct help.
“These grant schemes have been pulled together quickly and carefully to enable support to be targeted where it’s absolutely needed.
“It’s vital that we help as many businesses as possible to recover from the struggles of lockdowns.
“I’m pleased that councillors today have recognised that the council has managed to do this because of the way we have managed our finances.
“We are the envy of many other areas of the country where action like this is just not possible.”
Katrina Pierce, Development Manager for the Federation of Small Businesses in Lincolnshire says:
“Lincolnshire County Council have recognised the agony and frustration that so many business owners have faced since the outbreak of Covid-19.”
“They have created a significant and properly-targeted package of support that will not only help those who need urgent help, but will also help stimulate growth and digitisation across Lincolnshire to aid local recovery from this crisis.”
Click Here for more details on the grant schemes.