Small firms based in the Mendip area that have been hit by the pandemic or Brexit are being urged to apply for revitalisation grants of up to £20,000 before the deadline in less than two weeks.
The grants of between £5,000 and £20,000 are available to businesses in the area covered by Mendip District Council, including Shepton Mallet, Frome, Wells, Glastonbury and Street, to fund up to 75% of the cost of the business’ recovery strategy.
To be eligible, businesses must employ between five and 49 people, have been established and financially viable before March 23, 2020, and have experienced a significant adverse impact from Covid-19 or the EU exit.
They also need to prove they are viable, have a credible rejuvenation plan and be looking to take advantage of new opportunities or looking to adapt in order to secure the future of the business and jobs.
Applications close on Monday, October 11, and Chris Bowles, a director in accountancy firm Old Mill’s Wells office who specialises in advising small businesses, says firms should find out if they are eligible and apply now, as it could make the difference to both their businesses’ future and the future of the local economy.
“There may have been a bit of ‘fatigue’ creeping in around the complexity surrounding the various support initiatives on offer,” he said, “but an injection of cash of between £5,000 and £20,000 is still meaningful.
“However, you need to act quickly. This particular grant fund has been designed to assist small Mendip-based businesses that have been hit by the pandemic, or Brexit, to implement projects that will increase their resilience for a sustainable future.
“I would urge owner-managed businesses that fit the eligibility criteria to consider looking at this grant, particularly as new opportunities are opening up for innovative small and medium-sized businesses across the region.”
The application for the Business Revitalisation Grant for Mendip involves two stages. If the first, an online expression of interest, is successful the business will be assigned a business advisor for a fully funded one-on-one session and provided with a full grant application form.
Following this, the business will be able to submit the full application.
Full eligibility criteria can be found here https://www.mendip.gov.uk/revitalisegrant
