The Solent Local Enterprise Partnership (LEP) has launched a new Rural Business Resilience Fund for Isle of Wight businesses in response to the Coronavirus outbreak as it works tirelessly to support the region’s businesses.
The fund, managed by Natural Enterprise on behalf of the LEP looks to support the Isle of Wight economy by providing grants to rural small and medium-sized businesses (SMEs) which are looking to develop alternative ways of working, delivering products and services to the marketplace, marketing expenditure and other resilience initiatives.
Matched funded grants
The fund is now open for applications with grants available for capital expenditure of up to £2,500.
The grants must be matched with private funds (50 percent of total costs) and the funding will be provided in advance with full evidence of expenditure having to be provided within three months.
Safeguarding jobs
The projects which businesses choose to undertake must safeguard jobs to be eligible and must also demonstrate how they will benefit the Isle of Wight’s rural economy.
Solent LEP Chief Executive Anne-Marie Mountifield said:
“The Solent LEP team is busier than ever, working hard to help businesses in the region and ensure they are supported as much as possible, during this challenging time.
“This fund has been created specifically for Island businesses to ensure the Island’s rural economy is in the best shape possible during this period and crucially as we come out the other side.
“The LEP is working with a number of organisations to bring as many initiatives as possible to help the businesses which make our economy thrive, feel supported and encouraged during this unprecedented time.”
Streamlined application process
Graham Biss, Managing Director from Natural Enterprise said:
“We are grateful to the Solent LEP for this additional support for the Island’s rural business sector at such a challenging time.
“The application process for this new fund has been streamlined to ensure these monies can be easily applied for and quickly received.”
Sign up via the IWC
In addition to the work the LEP is doing for Island businesses, a new online page has been created for businesses seeking key updates on access to government relief funding during the Coronavirus outbreak through the Isle of Wight Council.
The page on the Isle of Wight Council’s Website includes an online form for businesses to provide their details to help speed up the application process, once the funds are available.
Find out more
For more information on the Isle of Wight Rural Business Resilience Fund and to download the application form visit the Website or contact [email protected]
Government Covid-19 guidance: Stay alert and stay safe
Wash your hands thoroughly and frequently (video tips).
Social distancing
It is recommended that you maintain at least a two metre gap (about 6.5ft) from people who are not from your household.
Seeking advice
Use the NHS 111 online coronavirus service that can tell if you need medical help and advise you what to do.
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