Tuesday, October 19, 2021

New grants to help North East Lincolnshire businesses grow

More than £800,000 is being made available in capital grants to local businesses through the new “NEL Reshape Grant” to help North East Lincolnshire-based businesses to grow, expand, or diversify their work.

The grant scheme, which links with phase 2 of the NEL Recovery Plan ‘Restore-Reshape-Replenish’, to create the conditions to grow, offers eligible businesses 50% of project costs, up a maximum of £25,000.

Grants will be available to SMEs from any sector who are registered and trading in North East Lincolnshire who can demonstrate that investment in capital expenditure will assist in the growth or diversification of their business.

Applicants that can demonstrate additional value, for example the creation of jobs, empty or poor-quality property brought back into use or improved, or wider community benefits will be prioritised. The funding stream also has an element which mirrors the recent Digital Boost Grant which was over-subscribed.

Cllr Callum Procter, cabinet member for economic growth, said: “We have already distributed more than £62million to local businesses in Covid business grant support. This is in addition to government schemes including furlough, the Self-Employment Income Support Scheme (SEISS) and bounce-back loans amongst others.

“We have also put other initiatives in place such as LoyaltoLocal, the NELinkolnshire Virtual High Street, free retailer subscriptions to ShopAppy, dedicated business support initiatives and a Digital Boost Grant.

“We have been working as hard as we can to try to make sure businesses throughout the borough not just make it through these difficult times, but also recover and become stronger.”

This latest money is the last strand of the Additional Restrictions Grant, a discretionary Government initiative to provide wider business support activities.

Businesses must be able to complete their projects and draw down the funding by the end of February 2022.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £27.55 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.

Advertisment








Latest posts

Coronavirus cases continue steady rise in Greater Lincolnshire

The number of Coronavirus cases in Greater Lincolnshire has increased by 10,495 in the past two weeks. As of Sunday 17 October a total of 127,863...

Showing your child the best possible Christmas

After a trying year for adults and children alike – whether struggling with remote working or weathering mock exams after learning from home –...

Magical illuminated Christmas Lights Trail returns to Belton House

The countdown to Christmas has started, and National Trust’s beautiful Belton House in Lincolnshire is getting ready to welcome its glittering Illuminated Trail back...

Planning permission granted for Stamford mixed-use development

Burghley and South Kesteven District Council have received planning permission for the St Martin's Park development on Barnack Road, Stamford. Last year Burghley and South...

Carer from The Grove Care Home shortlisted for Rising Star award

The Grove Care Home in Waltham near Grimsby is delighted to share the news that a member of their care team has been shortlisted...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close