Post date:
Growing businesses in East Cambs are being encouraged not to miss out on an opportunity to apply for a grant of up to £30,000.
The Business Growth Fund, launched by East Cambridgeshire District Council, is designed to help support businesses looking to scale up and grow.
Eligible businesses can apply for a one-off grant which can be spent on a range of assets, such as tools, hardware, or research, to help provide the precious resources they need to expand.
The money can also be spent on professional advice including training and development, repurposing safe working spaces for employees and much more.
Councillor David Brown, Chairman of the Finance and Assets Committee, said: “At East Cambridgeshire District Council we recognise that all growth is based on risk. More often than not you will need to spend 10 pence in order to make a pound. This grant is the equivalent of someone giving you that 10 pence and taking away a huge element of the risk.
“Over the past 18 months, businesses have faced some incredibly tough times as a result of the COVID-19 pandemic. This grant can be extremely beneficial for companies that want to start looking to the future to rebuild and expand.”
The money has been provided by central Government as part of its Additional Restrictions Grant Scheme to help inject cash into the local economy.
The grant scheme gives priority to those businesses which have:
- suspended growth plans as a direct result of the COVID-19 pandemic, especially within sectors not previously supported by other schemes
- the ambition to rapidly develop ideas into commercially viable and sustainable growth in 2022
- viable ‘market ready’ initiatives, financially backed by owners and other funders where needed
- ambition to recruit and train additional staff including new apprentices in 2022
The deadline for applications is Wednesday 12 January 2022 at 5pm.
Start-up businesses may also be eligible to apply.
Councillor Brown added: “As a Council, we’ve been committed to doing everything we can to support businesses throughout the pandemic and I would encourage all businesses to check the grant criteria and apply if eligible.”