London businesses to benefit from new £1.6m London Growth Hub grant programme
30 July 2020
The Minister for Regional Growth and Local Government has announced a £20 million national ERDF funding to help businesses across England get back on track, £1.6m of which has been allocated to the LEAP to be delivered through its London Growth Hub business support initiative.
The Minister for Regional Growth and Local Government, Simon Clarke MP said:
“We have always said that we would stand behind our businesses and communities as we rebuild following the coronavirus pandemic. This new funding does exactly that. Businesses will be able to use these new grants to pay for the expertise, equipment and technology they need to adapt, recover and rebuild. Small and medium sized businesses are the beating heart of communities; they provide employment and contribute significantly to local economies and we are determined to give them the support they need to continue to thrive.”
The support will be fully funded by the government from the England European Regional Development Fund and distributed through the London Growth Hub in September 2020.
The Grant Support will be available for small and medium-sized enterprises (SMEs) in London, to support them through these unprecedented times due to the economic crisis caused by the global COVID-19 pandemic.
Eligible SMEs will have access to grants between £1,000 – £5,000 to help them access business and professional services such as legal and financial advice or help to adopt new technology and purchase equipment that will help them get back on track to address their immediate needs in response to the impact of COVID 19.
There will be two separate pots of funding being made available:
For SME’s in the Visitor Economy sector
For SME’s in the wider economy (which covers all other sectors)
The Fund will be launched in September 2020 but to register your interest now click here