Durham County Council has recently introduced a £5million Durham Business Recovery Grant Scheme, open to businesses in all Sectors located in County Durham.
The aim of the Scheme is to assist businesses with a credible plan to adapt and recover from the effects of COVID 19, but which require financial support in order to do so. Grants are available for a minimum of £1,000.00 up to a maximum of £40,000.00 and the Scheme is able to contribute up to 75% towards eligible recovery plan costs.
There are a number of criteria to qualify for the Scheme, and businesses applying must be able to demonstrate that they:-
- Have a large operational base but less than 250 employees in County Durham
- Were established before 11th March 2020
- A set up for profit and registered to pay tax
- Use a business bank account
- Can demonstrate a significant adverse effect from COVID 19
- Can demonstrate solvency
- Can outline a credible and costed recovery plan
- Can fund their share of the recovery plan.
Businesses comprising Registered Charities, that provide local social welfare and community facilities, housing rental as part of a portfolio or public services or activities are not eligible to apply.
If you operate a business in County Durham that meets the above criteria you can find out more information about the Scheme at www.durham.gov.uk/businessrecoverygrant, or alternatively you can email a completed application form to email@example.com.
If you require advice or assistance in connection with any business matter please contact a member of our Commercial Team at any of our four offices.