Following the recent announcement that the Ministry of Housing, Communities and Local Government (MHCLG) will be issuing European Regional Development Fund (ERDF) grants through the Growth Hub network, the Business Growth Hub is currently applying for Greater Manchester’s allocation which we believe will be agreed late August to early September.
Read the Government's press release on the grants here.
We believe that the funding available will enable us to support around 400 eligible businesses across Greater Manchester who can demonstrate that they have been impacted by COVID 19 and can also demonstrate how the funding will support them to be more productive. Priority will be given to businesses in the Visitor Economy sector.
Businesses will be able to apply for 100% funded grants with a value between £1,000 and £3,000 (with grants available up to £5,000 in exceptional circumstances). The grant must support the purchase of either professional advice (accountancy, HR, legal etc) or the purchase of new technology or other equipment which will support the business being more productive (PPE can’t be funded with this funding).
In line with ERDF compliance rules, once accepted, the business must obtain at least two like for like quotes for the professional work which will be undertaken or the equipment/technology which will be purchased. The business must then pay for this upfront before claiming the grant back through this funding from the Business Growth Hub. Copies of bank statements will also be needed to demonstrate this expenditure.
At this stage, we are currently taking expressions of interest until we are able to move forward with accepting full applications.
The deadline for Expressions of Interest for the Small Business Recovery Grant is Wednesday 9th September at 5pm.
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