Buckinghamshire Business First launch 'Recovery Investment Fund' to help businesses affected by Coronavirus
Buckinghamshire Business First have launched a 'Recovery Investment Fund'.
Buckinghamshire based businesses with between 2 and 250 employees can apply for their share of the fund.
The fund is designed to allow businesses to recover from the Coronavirus pandemic, and to assure their future resilience and growth.
A spokesperson from BBF said: "If you have started to make plans for how your business can recover from the current COVID-19 crisis and are looking at activity to ensure the recovery, future resilience and growth of your organisation, these grants will help turn your plans into reality."
Match-funded grants of between £3,000 and £120,000 are available to support projects that contribute towards any of the following:
-New income streams / product development
-Improvements in productivity / profitability
-Safeguarding jobs / jobs growth
-Accelerated COVID-19 recovery
-Future resilience
Businesses must match fund 25% of the total project value. For example, the minimum project value which can be supported is £4,000 (business invests £1,000 and the grant can fund £3,000).
The maximum grant value is £120,000 (meaning the match funding required will be £40,000 for a project value of £160,000 or more to achieve the maximum grant).
Grants are available to organisations that:
-Meet the definition of a small and medium-sized enterprise (SME)
-Have two or more PAYE employees
-Are registered in the Buckinghamshire LEP area
-Were in good financial health prior to February 29 2020
To find out more about whether you or your business is eligible, please click here. Other criteria also apply, so we strongly recommend that you read the Terms and Conditions to get a full understanding of what this fund can support BEFORE submitting your application.