A GRANT funding scheme to help small and medium sized businesses recover from the impact of the coronavirus pandemic is opening for applications has opened.

The European Regional Development Fund Programme will distribute grants of between £1,000 and £5,000 to small and medium-sized businesses to help with access to new technology and other equipment as well as professional, legal, financial or other advice to help businesses get back on track.

The scheme, which has been allocated £20m, is being administered by the 38 growth hubs led by the Local Enterprise Partnerships (LEP) across the country, all of which are being awarded a minimum of £250,000 to get the programme rolling. To find your local area Growth Hub, visit lepnetwork.net/local-growth-hub-contacts/.

Harry Dunford, of Savills food and farming team in Winchester, said: “While open to all small and medium-sized businesses, this grant funding is a good opportunity for farmers with a diversified business to invest in some relatively low capital cost equipment or professional advice that could make a real difference as they recover from the impacts of Covid-19.”

Businesses will need to provide a quote for any work or purchases they intend to fund, and work must not have started on the project or goods been purchased.

“To have the best chance of securing a grant, businesses should prepare now by researching their options and sourcing quotations to submit with their application as there is expected to be high demand,” adds Harry.

For more information, contact Harry Dunford, Savills food and farming team on 01962 857418.