Grant funding available for small Warwickshire businesses with growth plans

Funding pots totalling £2m are available through Government grants for small businesses in Warwickshire to ease their post-pandemic recovery.

The Additional Restrictions Grant (ARG) scheme has awarded £1.2m to Stratford-on-Avon District Council and £916,000 to Rugby Borough Council.

The grants are to be targeted at businesses with a plan for growth that will lead to local jobs. This round of ARG funding must be allocated by the end of March.

Both local councils are being supported by the Coventry and Warwickshire Local Enterprise Partnership (CWLEP) Growth Hub to identify businesses that have been adversely affected by the pandemic that can outline and demonstrate a clear and robust recovery strategy.

Craig Humphrey, managing director of the CWLEP Growth Hub, said this was not a rescue fund to sustain businesses through to the latter stages of the recovery from Covid-19.

He added: “With this stage of the ARG funding, we expect to be able to demonstrate the impact of real key strategic growth on each business as a vital outcome of each successful application.

“We are urging businesses in all sectors to apply who can clearly prove their investment in their recovery and growth.”

Cllr Jo Barker, portfolio holder for business rates at Stratford-on-Avon District Council, added: “During the different phases of the pandemic, the Council has paid out over £70m to businesses in grants and business rate relief.

“As restrictions are lifted this new funding now needs to focus on local businesses looking to expand, diversify and support jobs across the district.”