Posted on 3rd March 2021
Category: News

The Growth Hub is making a final call for SME businesses in the Humber to apply to a 100% funded grant scheme to support with Covid-19 business recovery.

First launched in September 2020, the “SME Restart & Recovery” grant scheme has awarded grants to more than 100 businesses to date, and with limited funding remaining, the Growth Hub is encouraging eligible businesses to register and then apply for the grant scheme.

Due to a recent extension of grant scheme timescales by government, the application deadline has been pushed back to Friday 12th March. Any business awarded a grant would then have until 11th June to complete their grant-funded “project” and to claim the grant back from the Growth Hub.

Grants of up to £3,000 are available, and can be used to cover costs arising from implementing “return to normal” activities, such as working with consultants and specialist advisors to devise new marketing and sales strategies, or to look at introducing a new product or service to the business in order to diversify. Also, the grants can be used to fund the purchase of specialist equipment (costing £4,999 or less) to help with business recovery or to help provide new-to-the business products and services.

However, the grants cannot be used to cover “retrospective costs”; that is, to fund anything a business has already paid for. The grants can only be used to fund activities or equipment that is yet to be purchased.

Businesses will need to demonstrate the impact that Covid-19 has had on their business, and will also need to provide a brief business case on how they will use the grant, and how this will help the business “get back on its feet”.

SME businesses from the majority of sectors can apply, with only a few exclusions. More information and eligibility details can be found here.

To apply, businesses will need to register as a “pre-application” via a dedicated online portal. The Growth Hub team will then invite full applications from eligible businesses that have registered on a first-come, first-served basis. Assistance to complete the grant application form can be provided by the Growth Hub’s business advisor team on request.

Humber SMEs can find out more about this grant scheme, and can also access the online portal on the Growth Hub website here: www.humbergrowthhub.org/covid-19-sme-restart-recovery-grants/