Telford & Wrekin Council is gearing up to boost local businesses with a fresh round of coronavirus recovery grants worth up to £10,000.
There will be three distinct strands of funding targeted at specific business sectors across the borough, as well as access to business consultancy support.
Details of the funds available will be announced later today, with applications opening one week later. The whole application process is completed online and a dedicated website www.telfordgrowthfund.co.uk has all the information needed, including application guidance and FAQs.
David Wright, Telford & Wrekin Council’s Cabinet Member for Economy, Housing, Transport and Infrastructure, said:
“This is fantastic news for local businesses. Our aim at the council is to use the latest round of Coronavirus Additional Restrictions Grant funding to support SME businesses – those employing less than 250 people – and social enterprises who we recognise are important to supporting communities and our recovery from the impact of Covid-19.
“This will not only help strengthen our economy across Telford and Wrekin but create opportunities for growth and new employment, improving the lives of all our residents.
“We aim to support as many as we can with this round of funding, but at the same time it is clear that demand will outstrip supply. As a result, applications will be assessed on a first come, first served basis.”
The new growth and recovery grants range from £2,000 to £10,000 including The Telford Growth Fund, The Exceptional Fund and The Social Enterprise Development Fund as well as specialist one-to-one support.
The Exceptional Fund will provide further financial support for businesses that operate in the leisure, retail, and hospitality sectors. Applicants will need to demonstrate that they have either experienced, or continue to experience, a severe negative impact as a result of on-going COVID restrictions or the continued effects of the pandemic upon trading.
In addition to the grant funding options, Telford & Wrekin Council has an extended team of dedicated one-to-one business consultants that can provide support
Businesses should read the overview of each fund, the eligibility criteria and guidance and determine if they are eligible to apply with a qualifying project. The funds will open to applications on Tuesday 21 September 2021 and the council aims to notify applicants of the outcomes within 20 working days.
Cllr Wright added: “There are a range of business consultants on our panel that can assist all sectors to navigate recovery out of the pandemic and develop plans for growth or diversification with either specialist or general business support. Help can take the form of business planning, diversification mapping, supporting the introduction of new product lines and services or independent financial assessments through to the development of new websites.”
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