More pandemic recovery support offered to region’s businesses
The Mayoral Combined Authority in Sheffield City Region has secured a further £9m for the Additional Restrictions Grant (ARG), to ease the pandemic-related problems faced by businesses.
The additional funding packages of support for businesses includes:
- £4m to help growing businesses thrive
- £1m to boost existing business productivity
- £1.5m to support outdoor hospitality equipment – for venues such as pubs, restaurants, and hotels
- £0.8m towards digital innovation
- £2m Restart funding for the Culture and Visitor sector.
James Muir, chairman of the Sheffield City Region Local Enterprise Partnership, said: “There is a wide range of support available to South Yorkshire businesses from funding for venues to be able to serve customers outdoors through to major grants for capital equipment and to enable businesses to invest in digital innovation.
“It remains a hugely challenging time for South Yorkshire businesses and the grant funding plus the support that businesses can get through business support advisors based at each local authority, is very much needed.”
The Additional Restrictions Grant (ARG) complements the Renewal Action Plan (RAP), developed by the Mayoral Combined Authority, which is led by Mayor Dan Jarvis and the Local Enterprise Partnership.
The RAP has been developed in response to the impacts of COVID-19 and sets out a roadmap for how South Yorkshire can put itself on the path to recovering from the massive economic disruption the pandemic has caused.
South Yorkshire businesses who are already engaged with the process can now also take advantage of a top up to the Capital Investment Scheme, which provides up to £100,000 with a maximum 50% intervention rate for new plant or equipment.
These businesses should have projects which can start immediately and be completed within six months. Large software implementation projects will also be considered.
To be eligible to apply, businesses must:
- Be located in the Sheffield City Region and paying business rates to Sheffield, Doncaster, Rotherham or Barnsley
- Be viable, demonstrating growth or potential to grow
- Have been trading for at least 12 months
- Operate from commercial premises.
- Have a project that is able to deliver a return on investment through jobs / turnover / productivity.
- Be planning expenditure or have a project in the pipeline for which approval of a grant would be a creative incentive to bring forward the timing of the project or to increase the scale of the investment in the project.
- Be in a position to make a legal commitment to the equipment once the grant is approved.
The Outdoor Hospitality Equipment Scheme is another new grant, which is available for this region’s businesses to invest in capital works and equipment to allow them to adapt to increase capacity for outdoor hospitality.
This is part of meeting the Government’s roadmap to reopening and to increase outdoor hospitality options. Businesses can claim up to £3,000 support for adaptations (for example, outdoor seating, decking, structures).
A new Digital Innovation Grant is also available to provide support for businesses on introducing or enhancing digitisation. 100% grant funding is available up to a value of £10,000.
The Business Productivity Scheme has been reintroduced with funding from the Additional Resources Grant to meet demand from across South Yorkshire. Grants are for a maximum of £25,000 (includes 50% match funding).
The aim of this scheme is to support businesses in South Yorkshire to improve their productivity through the provision of a capital or revenue grant and to improve how they measure and report productivity gains.
Grant awards will be 50% of eligible costs. Therefore the minimum size of the total project cost will be £5,000, the maximum will be £24,999.
Firms are advised to get in touch with the Gateway team in the Growth Hub to be guided through the support available. Visit www.scrgrowthhub.co.uk
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