£1million delivered to businesses in ten months by award-winning grants scheme

"The scheme allocated more than £1.5million in grants to businesses very quickly to give them immediate support while it has also enabled many to stabilise and strengthen in a way which will benefit them and the communities of which they are part in the longer term."

A scheme created and delivered by Warwickshire County Council to support small businesses through the pandemic has now paid out more than £1million in grants in ten months.

The Adapt & Diversify scheme was launched in February as part of a package of council funding to support economic recovery in the county.

It was devised by WCC's Economy & Skills team following a brief from corporate board to identify those businesses most in need of support and then get that support out to them as swiftly as possible.

Adapt & Diversify offered grants of £2,500 to £5,000 to access specialist external advice and up to £20,000 for projects involving specialist advice and/or the purchase of equipment or the refurbishment of property.

It was initially launched on February 1st and met with colossal interest from business, having to close to applications within hours. A second round followed on April 20th.

In November the grant funding paid out by the team passed £1million and by the end of that month the sum awarded had reached £1,019,731. This funding has supported 120 businesses and 608 jobs, safeguarded 336 jobs at risk and is forecast to create 236 new jobs.

The project is now closed to applications but the hard work behind administering the grants will continue well into 2022. Claims for a further £500,000 are expected by the end of March.

The impact of the scheme on local communities and the economy, and the huge amount of skill and commitment which underpinned its delivery, earned the Adapt & Diversify team, led by the Business & Economy team, a coveted Star Award from the county council.

The scheme's success was also due very much to a collaborative approach across the council with valuable input from many different teams including the wider Economy & Skills team, Finance, Project Management Office, ICT, Legal, and Sustainable Communities.

Warwickshire County Council's Portfolio Holder for Economy & Place, Cllr Kam Kaur, said: "The Adapt & Diversify Scheme has been an outstanding success driven by the creativity, skill and sheer hard work of many people across the council. The Business & Economy team worked collaboratively with other teams and everyone played a role, some big and some small but all important to the delivery of a project which has really made a difference.

"The scheme allocated more than £1.5million in grants to businesses very quickly to give them immediate support while it has also enabled many to stabilise and strengthen in a way which will benefit them and the communities of which they are part in the longer term."

The Adapt & Diversify scheme was part of a £5.8 million package of loans and grants for Warwickshire businesses funded by the County Council. For more information please visit www.warwickshire.gov.uk/business-support