Home Grants Business Revitalisation Grant for Mendip

Business Revitalisation Grant for Mendip

by opportunitydiary

Application Deadline: Oct 11 2021

The Business Revitalisation Grant for Mendip is a discretionary grant fund to assist businesses in the Mendip District to adapt and revitalize to meet the challenges and opportunities of the emerging economy, markets and new working practices post the EU exit and as we all recover and move forward in light of Covid 19. 

The grant is intended to assist eligible businesses to implement projects that will increase their resilience for a sustainable future. The grant available is from £5,000 up to a maximum of £20,000 per business.  It is available to fund up to 75% of the capital and / or revenue costs of a project where this forms part of a business recovery and rejuvenation strategy.      

To apply businesses will need to meet the eligibility criteria and have identified and costed a viable project that revitalises the business.  The grant is not a wage support mechanism. 

Eligibility

Eligible businesses are those SME businesses able to demonstrate that they:
• have a business address in the Mendip District area,
• employ between 5 and 49 people at the Mendip based business location(s),
• were established before 23 March 2020,
• are set up for profit and registered to pay tax on profit,
• use a business bank account (separating personal and business finance),
• were financially viable before 23 March 2020 and are solvent,
• can be financially viable moving forward,
• experienced a significant adverse impact from Covid-19 or the EU exit and / or
that they are looking to take advantage of new opportunities, technology and/or
to adapt to secure the future of the business and jobs,
• have a credible rejuvenation strategy and a costed revitalisation project that
meets the grant objectives and criteria,
• have access to the necessary funding to meet the cost of the project (including
a contingency sum where appropriate) that would not be covered by the amount
of grant applied for – this could include match grant funds,
• are seeking grant for a project that relates directly to that part of the business
and jobs within the Mendip District (in the case of a business with bases in a
wider geographic area),
• propose to commence the business revitalisation project within 3 months of the
award of grant (where the application is successful) and to have implemented
or completed it within 6 months or 12 months depending on its scale and
nature.

Application Procedure

The application for the Business Revitalisation Grant for Mendip involves two stages.  The first stage is an online Expression of Interest, if successful, the business will be assigned a business advisor for a fully funded 1-2-1 session and provided with a full grant application form.  Following the business advice session, the business will be able to submit the full application. Please read:

Official Website: Business Revitalisation Grant for Mendip

Related Articles

Leave a Comment