Wednesday, March 3, 2021

£12m package of support unveiled for Lincolnshire businesses

Lincolnshire businesses could benefit from up to £10,000 of funding through a new grant scheme being planned by the county council.

In light of the economic impact of coronavirus, the council’s executive has proposed using some the authority’s reserves to provide a £12 million package of support for local firms, including business grants.

The support is particularly aimed at those that have not benefited from the government’s COVID support schemes and smaller businesses with 50 employees or fewer.

“We know local businesses have had a particularly tough time during the pandemic, so we want to make additional support available,” said Cllr Martin Hill, leader of Lincolnshire County Council.

“Thanks to our careful financial management over the years, we do have reserves we can draw on in times of emergency, and now is the right time to do that.”

Cllr Colin Davie, executive member for economic development, said: “Our small, local businesses are the backbone of the county economy – there are around 43,000 in Lincolnshire, and it’s vital we help those that have had no help to ensure they survive the financial impact of the pandemic.

“The focus will be on those businesses that have been unable to access the government’s COVID support schemes, such as those that are less than a year old or without premises or home-based.

“And there are likely to be separate pots of money for specific needs, such as a digital technology grant and a village shop grant. These will be launched on a staggered basis, with the general grant scheme opening first.

“Once everything is in place, we’ll make sure businesses have time to collate the required information and documents before opening up the application process. After that, grants will be allocated on a first-come, first-serve basis.”

The main grant scheme is set to launch on 23 February, followed by the other schemes in early March.

Image credit: Shutterstock.com/ Ink Drop

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