More funding on the way to aid Covid recovery

A scheme which has supported thousands of Warwickshire businesses since the start of the pandemic is readying another wave of grant funding to promote recovery into next year.

Warwickshire’s District and Borough Councils have been administering Additional Restrictions Grant (ARG) funding to help more than 5,000 businesses react to the pandemic since April 2020 – and more help is on the way thanks to another round of grants worth over £4.9m.

Rugby Borough and Stratford District councils are working alongside the Coventry and Warwickshire Local Enterprise Partnership (CWLEP) Growth Hub to jointly deliver their scheme.

Businesses with an annual turnover of above £500,000 can apply for a discretionary grant to assist with capital and revenue projects that lead to increased growth, recruitment of new staff and/or diversification.

Warwick District Council is working with Coventry and Warwickshire Co-operative Development Agency (CWCDA) to support charities and not-for-profit businesses that have been impacted by the pandemic. Successful applicants to this scheme will benefit from a grant award of £12,500 and targeted business support, to assist with recovery and resilience during this difficult time.

Applications, which opened this month, close on Friday, February 25 2022.

Nuneaton and Bedworth Borough Council is expected to have a variety of schemes which will include:

Business Growth & Recovery Scheme – This will be a project-based grant scheme assisting SMEs with one of costs of up to £15,000 per business. The aim is to help SMEs implement changes to support with COVID recovery and diversification.

Shop Front Enhancement Scheme – Capital grants of up to £1,500 to help businesses update and refresh the external appearance of their premises.

Town Centre Arts & Leisure Recovery Scheme – Revenue grants of up to £1,500 to support arts, leisure and culture events in town centres.

Support for Market Traders Scheme – This is an extension of the current market trader scheme that is live. This will now extend to Thursday, March 31 2022.

SME Hardship Scheme – Grants of up to £5,000 to assist businesses facing extreme hardship in the borough.

At the time of writing, North Warwickshire Borough Council is understood to be considering the best use of their additional ARG funding.

For all schemes across the county, the grants, which vary according to the size of the business requesting them, must be allocated by March 2022.