New Covid-19 fund launched for Birmingham businesses

A new Covid-19 fund has been launched aimed at businesses in Greater Birmingham to help adapt their business models.

The £2m Pivot and Prosper Grant Fund has been launched by the Greater Birmingham and Solihull Enterprise Partnership (GBSLEP) and gives businesses the opportunity to apply for match funding up to £40,000.

The funding is aimed at organisations who are seeking to accelerate their recovery from Covid-19 by “embracing new business models, entering new markets or changing the way they work”.

The funding is designed specifically to support the key strategic sectors identified in the Local Industrial Strategy.

To qualify for funding, businesses must be based within one of the nine local authority areas within the GBSLEP region: Birmingham, Solihull, East Staffordshire, Cannock Chase, Lichfield, Tamworth, Redditch, Bromsgrove and Wyre Forest.

They must also operate within one of the following sectors; Advanced Manufacturing & Engineering, Business Professional & Financial Services, Creative Industries, Energy & Low Carbon, Life Sciences, Food & Drink, and have between 10 -100 employees.

Director for stimulating innovation at GBSLEP, Matthew Rhodes, said: “It’s vital that as we emerge from the current crisis, we help businesses focus on the opportunities to accelerate recovery and spread growth and jobs across the region. Some of the highest potential opportunities will require greater innovation and changes in business models, and we felt businesses which are willing to embrace these challenges deserve particular support.

“The Pivot and Prosper Grant Fund has been created to support businesses to embrace these new models. This will also increase business resilience across the region, helping organisations continue to grow, strengthen and create new jobs.

“We’d urge companies who are looking for support with adapting their business model to contact us as quickly as possible to see what resources are available to them.”