On 3 July 2020, the government announced further grant funding via local Growth Hubs to support the economic recovery plan for the country.
The grants have been made available as businesses struggle to deal with the knock-on effects of the pandemic, and eligible businesses can apply for help to purchase vital professional services, including legal services and accountancy services.
The Gloucestershire Growth Hub has recently announced that they have been allocated £464,655, and has decided that the best way to assist as many local companies as possible is to offer a maximum grant size of £3,000 per business.
How do I apply?
These grants are available to businesses via the Growth Hub website on https://www.thegrowthhub.biz/grants. Applications open on 28 September 2020. The following conditions apply in order to your busines to be eligible:
- Businesses must be based in Gloucestershire
- Business must fall under the SME definition – less than 250 employees and less than £50m turnover
- Business must have started trading before 1st March 2020
- Business must be able to demonstrate the impact of COVID-19
- Business must show how the grant allocation will support recovery plans
Eligible grant activities include:
- Purchase of specialist consultancy/advice (including accountancy services)
- Purchase of minor equipment that supports the adoption of new technology/business processes in order to continue to deliver or diversify business activity in response to COVID-19
- Purchase of minor equipment that supports the adaptation of existing technology/business processes in order to continue to deliver or diversify business activity in response to COVID-19
How can Nephos support you?
As a professional services provider, Nephos is perfectly placed to support your business recovery plan and future growth by utilising many of our growth services. Some of the many services we offer are:
- Cashflow planning and forecasting
- Business model review and financial health check
- Support with funding applications through our digital partners, Capitalise
- Digital transformation services to get your business into the cloud and your finances real time
- Management accounting production and financial analysis
All of the above services will be covered by the grants available so register your interest with the Growth Hub now ahead of the applications opening at 10am on Monday 28 September. Please ensure you act fast on the release date, as grants will likely be allocated very quickly!
If you require support outside of these grants, our team is always on hand to assist. Call our office on 01242 260590 to book a consultation, or visit our services page to find out more about what we do.