£630,000 grant scheme launched for small Shropshire firms affected by Covid-19
A new £630,000 grant scheme to help small businesses in Shropshire and Telford which have suffered as a result of the Covid-19 pandemic is being launched.
Grants of between £1,000 and £3,000 are available through the Marches Small Business Recovery Grant.
The package is worth £240,000 to firms in Shropshire, with £82,500 set aside for the visitor economy and £157,500 for wider sectors. The scheme officially launches on October 14.
Councillor Steve Charmley, deputy leader of Shropshire Council and cabinet member for economic growth, said: “This funding is really welcome and will help us to focus on supporting some of the smaller businesses who have been hit hardest by the coronavirus pandemic.
“These businesses are vital to our towns and communities across Shropshire and employ many local people, so it is vital that they are shown support.
“I want to urge businesses to check the eligibility criteria carefully and apply as quickly as possible as there will be a very high demand and only a certain amount of money available.”
Councillor David Wright, Telford & Wrekin Council’s cabinet member for economy, housing, transport and infrastructure, said: “This funding is focussed on supporting some of the smaller businesses that have been hit hardest by the pandemic. These are part of the lifeblood of our economy employing many local people.
“We expect demand to be high and there is a finite pot of money allocated from the European Regional Development Fund for the Marches. I would therefore urge businesses to check the eligibility criteria carefully and respond quickly as it is likely that the funds will be allocated very quickly and we may not be able to meet the demand.”
The Marches Local Enterprise Partnership region has been allocated £215,000 to support tourism businesses and £415,000 for businesses in other sectors through the European Regional Development Fund.
Only small businesses throughout the Marches, which includes Shropshire, Telford & Wrekin and Herefordshire, with up to 10 full-time employees that can demonstrate a negative impact due to the coronavirus pandemic, are able to apply.
The grants will be available for projects running between November and January.
Costs can cover specialist advice – including HR, accountancy, legal, financial, health and safety, IT/digital and sector-related consultancy – and/or equipment to address immediate needs in response to Covid-19.
Gill Hamer, chief executive of the Marches LEP, said the funding was vitally needed by small businesses across the region.
She said: “We know the tourism industry in our region in particular has been ravaged by the impact of Covid-19 and these grants will offer some essential help at a time of great worry and stress.”
Gill Hamer, chief executive of the Marches LEP, added they anticipated there will be high demand for the scheme, which will be run on a first-come first-served basis from its launch on October 14.
“The impact on the wider economy has been profound and we know from our own research that it is smaller businesses which have often been put at most risk," she added.
Richard Sheehan, chief executive of Shropshire Chamber of Commerce, said: “Any initiatives with a local focus of supporting our businesses financially and helping them through this challenging time must be welcomed.”
Applications will open on October 14.
