Coronavirus: New £2 million fund to help Buckinghamshire employers

Andrew Smith, chair of Buckinghamshire Local Enterprise Partnership.Andrew Smith, chair of Buckinghamshire Local Enterprise Partnership.
Andrew Smith, chair of Buckinghamshire Local Enterprise Partnership.
A new £2 million fund is being set up to help businesses hit by the coronavirus health scare.

The move by the Buckinghamshire Local Enterprise Partnership (LEP)comes as the Covid-19 crisis batters local companies cutting through their cashflow and forcing many to furlough members of staff and leaving them struggling to survive.

Agency officials held an extraordinary meeting to agree the new funding package.

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The money will be administered by the LEP’s Growth Hub as part of the Buckinghamshire Business Resilience Support Fund.

This funding is part of a co-ordinated support programme for business with the LEP working closely alongside Buckinghamshire Business First and Buckinghamshire Council.

Andrew Smith, Chair of the LEP, said: “This fund is intended to complement those national measures already in place, to support Buckinghamshire businesses to assist with the emergency response and to assist with remote and flexible working practices that are essential at this time.

“The speed of response is critical in supporting successful at-risk businesses in Buckinghamshire.”

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Michael Garvey, Chair of Buckinghamshire Business First, said: “Over two weeks we’ve heard from many Buckinghamshire businesses impacted by this situation, a single and recurring message is coming across loud and clear, swift access to cash is needed to prevent healthy companies from going under, and people losing their jobs and income.”

Councillor Martin Tett, leader of Buckinghamshire Council said: “It is important all local partners work closely together to support the resilience of our communities and businesses and to swiftly provide resources when and where they will be most effective.”