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£375,000 Grant Fund Available For Solent SME's

Robert Macdonald

With the continual government guidelines being introduced or changed, many business owners are having to incur expenditure on more or different measures of safety due to COVID-19 having a large influence on how businesses are allowed to operate. It is apparent that many SME's are in need of financial assistance in order to modify their business to meet new regulations and to keep employees and customers safe. Hence why the Solent LEP are announcing this new fund for SME's. 
On the 16th September 2020 Solent Local Enterprise Partnership (LEP) announced a fund of £375,000 being made available to SME's. Funded by the European Regional Development Fund (ERDF), The Restart and Recovery & Kick-starting Tourism Grants have been created specifically to help SME's in the Solent area to adapt and survive in response to the impacts of COVID-19. 
The grant is split into two sections with at least £157,000 reserved to support the visitor economy and the rest of the funds being made available to applications from SME's in the wider economy. Eligible SME's can have access to grants between £1,000 and £3,000 and in exceptional circumstances this could rise up to £5,000. All grants will cover 100% of the cost of the product or service applied for, with no requirement for match-funding.
Grants may also be used to purchase minor equipment to adapt new technology in order to continue to deliver business activity or diversify. This will apply to expenditure on equipment where a COVID-19 related impact can be demonstrated. 
Round one of the Fund will close once 1,000 applications have been received or one week from its launch on the 16th September 2020, whichever is sooner. Should the round not close early, it will run until 11:59pm on 23rd September 2020. 
For more information or to start your application please click here: