Local enterprise partnership "Coast to Capital" says it's opened a new £2.1 million matched-funding grant scheme to help post-Covid business recovery plans.
The group said its "Business Recovery Grants" are intended to provide businesses in West Sussex, Brighton & Hove, East Surrey, Croydon, or Lewes District with financing of between £10,000 and £170,000.
This will be matched funding, to provide up to 50% of the costs of expansion projects for organisations that can demonstrate a clear link to COVID-19 recovery and growth.
In addition, Coast to Capital is looking for businesses to set out plans for job creation and job retention to improve the unemployment rate in the local area.
Applicants from all sectors are eligible to apply for this funding, but Coast to Capital said it is prioritising applicants from the following sectors:
- Hospitality
- Travel &Tourism
- Sports & Leisure
- Entertainment & Arts
- Food & Drink
- Retail & Wholesale
- Aviation & Supply Chain
- Advanced Engineering & Manufacturing
- Horticulture & Viticulture
- Health & Life Sciences
Coast To Capital has placed information online.
The group added that it is currently reviewing its understanding of the full impact of COVID-19 on the local economy, and will release its findings at the end of summer.
Jonathan Sharrock, Chief Executive at Coast to Capital said:
“We recognise that as a result of the pandemic, many businesses are still in need of support as we look towards economic recovery.
"I am pleased that we are able provide some relief via our Business Recovery Grants and look forward to seeing proposals from the diverse range of organisations across our area.”
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