Kick-start Tourism and Restart and Recovery SME Grants available soon!
The Government are offering two grants to help ease smaller businesses back into recovery following the repercussions of COVID-19.
- Kick-start Tourism Grant (£150,000 available in total)
- Restart and Recover SME Grant (£250,000 available in total)
These grants have been created, specifically to help SMEs in the Coast to Capital area to adapt and diversify following the impact of COVID-19. The Kickstart Tourism grant is aimed at businesses within the visitor economy with fewer than 250 employees, while the Restart and Renew SME grant is aimed at all other businesses with fewer than 250 employees.
Both grant schemes will open on Tuesday 15 September at midday.
Funded by the European Regional Development Fund (ERDF), eligible SMEs can access grants of between £1,000 – £3,000 (up to £5,000 in exceptional circumstances) toward professional services to help them adapt during the COVID-19 pandemic or to purchase new equipment.
100% of the money will come from government with no obligation for businesses to contribute financially.
How to apply
Application for funding is made for the Coast gateway diagnostic tool on the Coast2Capital Growth Hub gateway diagnostic tool. The brief video below explains this process in full:
Funding is extremely limited and demand for the schemes will be high so you should complete the gateway diagnostic tool as soon as possible once the scheme opens.
Successfully submitting an eligibility diagnostic through the Coast to Capital Growth Hub diagnostic tool does not guarantee that you will be successful in your application. If successful, you will receive the relevant documentation from Exemplas detailing the next steps.
Business Recovery Grants
Coast to Capital have also launched a Business Recovery Grants scheme, which is aimed at helping SMEs, Social Enterprises and Charities in the region to recover and grow from the impact of the COVID-19 pandemic. The application window for this grant is now open until Friday 18th December 2020.
A total of £2.1 million in funding is available with grants ranging £10,000 to £170,000 (for projects of £20,000 to £340,000). Grant funding must be matched by the applicant (at least 50% of project value) and must be spent on capital items only.
Applicants from all sectors are eligible to apply for this funding, but certain sectors will be prioritised. These include Hospitality, Travel & Tourism, Sports & Leisure, Retail, Advanced Engineering & Manufacturing and Horticulture & Viticulture.
If your organisation meets the eligibility requirements you can apply for funding by completing and emailing the expression of interest form to firstname.lastname@example.org
Further information on the Business Recovery Grants scheme can be found here.
If you require further guidance on accessing funding for your business, please contact a member of our team on 01903 234094.