COVID-19: Business Revitalisation Grant for Mendip available until Monday 11 October
As the economy continues to recover and businesses get back to normal it may still be worth exploring local authority grants that are still available – but you’ll need to hurry.
One such grant is the Business Revitalisation Grant for Mendip where local businesses can now apply for grants between £5,000 and £20,000 to fund their project ideas that could revitalise their business following the pandemic.
In a nutshell, the Business Revitalisation Grant is a discretionary grant fund to assist businesses in the Mendip District to adapt and revitalise to meet the challenges and opportunities of the emerging economy, markets and new working practices post-Brexit as the region recovers.
This specific grant is aimed at smaller businesses in Mendip employing between 5 and 49 people.
29th September 2021
Chris Bowles See profile
The grant is intended to assist eligible businesses to implement projects that will increase their resilience for a sustainable future. The grant available is from £5,000 up to a maximum of £20,000 per business. It is available to fund up to 75% of the capital and/or revenue costs of a project where this forms part of a business recovery and rejuvenation strategy.
To apply, businesses will need to meet the eligibility criteria and have identified and costed a viable project that revitalises the business. The grant is not a wage support mechanism.
Economic recovery and supporting the Mendip towns and rural hinterland are key priorities for Mendip District Council. The Council recognises that business recovery strategies and projects will be unique to each business. Some businesses may be seeking to diversify and grow, employing more staff. For others, the focus will be on exploring new innovative ways of working to sustain the future of the business, safeguarding jobs as well as upskilling the local workforce.
Expressions of Interest are open and welcomed from businesses operating in any sector and meeting the key criteria. Where Business Revitalisation Projects aid business resilience, but additionally provide social or environmental benefits for the wider community, for example lowering carbon emissions, providing a new service for the local area or using suppliers in the Mendip district, these will be looked on favourably.
The application for the Business Revitalisation Grant for Mendip involves two stages. The first stage is an online Expression of Interest, if successful, the business will be assigned a business advisor for a fully funded one-on-one session and provided with a full grant application form. Following the business advice session, the business will be able to submit the full application.
Click here for further details including:
- Eligibility Criteria
- Guidance Notes for Business Revitalisation Grant
- Business Revitalisation Grant FAQs
- Step-by-step guide and process flow chart
Applications for an online Expression of Interest is open from 9am on Monday 27 September 2021 and will close at 5pm on 11 October 2021.
Chris Bowles, a director at Old Mill’s Wells office who specialises in advising small businesses comments “I would urge owner managed businesses who fit the eligibility criteria to consider looking at this grant, particularly as new opportunities are opening up for innovative SMEs across the region.
There may have been a bit of ‘fatigue’ creeping in around the complexity surrounding the various support initiatives on offer but an injection of cash of between £5,000 and £20,000 is still meaningful but you need to act quickly. We are more than happy to help businesses on the financial aspects of the application process.”
For further information contact your usual adviser, or alternatively click here….