Growth Support Kickstart Grant Scheme
Tue, Sep 1, 2020
If you operate a small or medium-sized business which has been affected by the impacts of coronavirus, you could be eligible for paid business support under the Growth Support Kickstart Grant Scheme. The European Regional Development Fund (ERDF) grants are available on a first come, first served basis so you’ll need to act quickly.
If covid-19 has caused any of the following issues for your business, you could be eligible:
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Cash flow issues (due to a reduction in sales, late payments from customers or increased supplier costs).
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Furloughed staff.
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Temporary closures due to Government lockdown.
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Social distancing measures.
How much can you apply for?
Eligible small and medium-sized businesses in Somerset and Devon can apply for a
grant ranging from £1,000-£3,000, businesses in other areas, such as Bristol or London can apply for a grant up to £5,000.
What can you use the money for?
Any money received under the Growth Support Kickstart Grant Scheme must be used for specialist professional advice, such as finance, accountancy, HR or IT/digital. You can also use the grant to purchase minor equipment to support your business to adapt or adopt new technology in order to continue to deliver business activity.
The Growth Support Kickstart Grant can be used to access Portt & Co’s financial services. We can provide a financial review of your business, write a 3 year forecast for cash flow, profit and balance sheet as part of a financial plan, give you a detailed analysis of your business profitability and other Finance Director services.
When applying, you will be asked to submit a valid quotation for the services you will use the grant for. Please contact us for a personalised quote in advance so that we can help to progress your application.
Is your business eligible?
Check which Growth Hub is relevant to your business on the LEP Network website.
If you operate a business in the South West (Somerset or Devon), your Growth Hub is: Heart of the South West Growth Hub.
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The grant is only available to small and medium-sized businesses which employ fewer than 250 employees.
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Your enterprise must be less than 25% owned by another company or combination of companies.
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Has your enterprise received less than €200,000 in State Aid in the last three years?
How to apply:
Visit the LEP Network website and follow the instructions to find the correct Growth Hub for your business.
Somerset and Devon businesses – Heart of the South West Growth Hub
Bristol businesses – West of England Growth Hub
London businesses – London Growth Hub
Complete your application using all information provided and your personalised quotation.
Once your application is submitted, it will be checked for completeness, assessed and if eligible, a grant funding agreement will be issued within 14 days. Applications will continue to be processed until the funding allocations are met.
What if you’re not eligible but would still like financial services?
If you’ve checked the criteria and aren’t eligible, but would still like financial services, we can help! At Portt & Co we support small and medium-sized businesses from across the UK with a range of financial, accountancy and payroll services. Essentially, we act as your finance and payroll department, meaning that you receive a professional and efficient service, without incurring large staff costs and freeing up your time to focus on running and developing your business.
“Having Portt & Co manage the books and provide monthly management accounts saves me a lot of time and staff cost. It also means I have timely and accurate information about our financial performance, which is a necessary and fundamental foundation for any successful and growing business.” Centurion Chartered Financial Planners
“I rely on Portt & Co to do what they are experts at, freeing up the time I desperately need to focus on my own expertise and deliver for my clients. I can concentrate on the day-to-day running of the business, assured that behind-the-scenes they have everything in hand.
I wouldn’t hesitate to recommend Portt & Co to any business owner who wants to focus on growing their business, rather than being bogged down with compliance. Every single member of the Portt & Co team is an absolute pleasure to deal with and always there when you need them.” MadlinHanna Consulting