Two grant schemes launched to help firms

Birmingham City Council have announced the launch of two new grant schemes - having secured further Additional Restrictions Grant (ARG) funding from government to support businesses impacted by the pandemic.

The ARG Discretionary Restart Fund is open for eligible businesses that did not qualify for a Restart Grant.

It is a specific one-off grant worth £5,000. Businesses of all sizes can apply and must operate in one of the following sectors - non-essential retail, hospitality, accommodation, leisure, gym and sports and personal care.

The ARG Business Recovery Scheme is designed to provide SMEs with grant funding of between £5,000 to £50,000 towards projects which will drive business recovery and safeguard existing jobs.

Established SMEs within any sector that have been actively trading (three months actual sales and income) for a minimum of the last three months and seeking to implement a recover plan, can apply.

Businesses will have to obtain approval prior to commencing their projects, which will need to be financially completed within three months from the date the application is approved, including spend, defrayal and claiming the grant. Priority will be given to investment ready projects that can be completed within this period.

All grants are subject to applicants meeting the eligibility criteria and applications will be assessed on a first come first served basis and subject to availability of funds.

Only one grant per business can be awarded and businesses can only access one of the schemes.

Raj Kandola (pictured), head of policy at Greater Birmingham Chambers of Commerce, said: “As national restrictions began to ease over the summer, the GBCC has continued to work closely with Birmingham City Council in sharing feedback and data from local businesses that have continued to experience financial hardship as a result of the pandemic.

“As part of this process, we established that a number of businesses failed to meet the set criteria for the Restart Grants through no fault of their own.

“That 's why we are delighted that the Council has acted decisively and secured additional government funding for those businesses that are still suffering from large overheads and growing debt levels.

“It is essential that the money reaches those businesses that need it the most and we would urge eligible businesses to apply straight away and hopefully secure a much-needed cash boost.

“As always the Chamber will be on hand to gather business views on the application process and share feedback with the Council on any potential issues firms might encounter during the process. ”

To apply for either of the schemes and find eligibility criteria, method of payment and the application form please click here.

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