Recovery and Growth Fund
Due to a high level of interest in the South Holland Recovery & Growth Fund, with requests now exceeding the Government funding made available to the District, we are not currently able to accept further applications.
The team are working exceptionally hard to process existing applications, and will respond to businesses with their outcome as soon as possible.
Phase Two of the popular Recovery & Growth Grant Fund will be reopened to receive applications from Businesses based in South Holland from 9am on Tuesday 23rd November.
The original fund, launched in August of this year, was heavily oversubscribed and had to be closed for applications in late September once all of the initial grant funding had been committed.
This second smaller tranche of funding (£170,000 in total) will once again provide both capital and revenue grants to businesses based within the District. Like the original program, grants of between £1,000 and £25,000 will be made available but this time the maximum contribution will be set at 50% of the total cost.
Unlike the previous emergency COVID grants that the Council has helped distribute, which supported running costs to help keep businesses trading, this fund is focused on future development and growth, and can be used to support a wide range of investments.
Examples of things that can be funded include:
- Website development
- Staff training & development costs
- Business advice or consultancy costs
- Development of marketing materials or promotional activity
- Equipment and machinery or other assets that can help your business to grow
- Cost of renovating your shop front within planning and conservation area rules
- Innovations to help your business to adapt and change after COVID-19
- Development of a new product or service to help your business to diversify.
We expect demand for funding to far outstrip the remaining budget and envisage that the window in which businesses can submit grant applications will be small.
All applications will be assessed on their own merits and grants awarded on a competitive basis.
Only complete applications, that submit all the required information, will be assessed by the Council's economic development team.
A final closing date to submit applications has not been set, instead the Economic Development Team will review the position daily before closing the scheme. Obviously, those businesses submitting strong and complete applications early will stand a better chance of securing some support.
We aim to support all types of businesses but there are of course some eligibility criteria and not all businesses will be successful - for example we can't support businesses that are insolvent or classified as an entity in difficulty [387.32KB] (opens new tab), those that have already exceeded the limits on public funded support or those based outside district or those that received a grant in the first phase of Recovery & Growth.
Business will need to be able to contribute at least 50% of the costs of their planned investment and we will need to see that businesses can fund the total cost of the investment up front, as grants will be claimed retrospectively.
Importantly, any grants awarded must be fully claimed by 28th February 2022 or the funding will be withdrawn.