Nottingham Small Business Fund launched - but Central Government funding not enough, says City Council
 A new small grants programme to support more Nottingham businesses affected by the COVID-19 pandemic has been launched today by the City Council?s Nottingham Economic Recovery Unit (NERU), however the council has warned the fund is not enough to support every business that needs it. The latest round of grants is targeted at businesses who have been missed out of previous Government support schemes.?
Nottingham City Council has been awarded ?3.35m from Central Government for a Discretionary Grant Fund, which the council is calling the Nottingham Small Business Fund. The grants will support businesses outside of the scope of the Small Business Rates Relief scheme, especially those small local businesses with ongoing property costs. Those who have previously received the Small Business Rates Relief grant will not be eligible for this grant.?
Grants of up to ?2,500, ?5,000 and ?10,000 will be available for businesses who were trading prior to 11 March and who have been ineligible for other grant funding. This includes those in shared or flexible workspaces, market and street traders, charities and other businesses with a rateable value between ?15,000-?51,000 who have been forced to close or reduce trade due to COVID-19.?
More information, including the application form, can be found?via the City Council website here.
Nottingham City Council is launching a new Nottingham Economic Recovery Unit (NERU) in response to the challenges the city and its businesses expect to face as a result of the COVID 19 pandemic.
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The new unit will adapt existing support through the D2N2 Growth Hub (part ERDF funded), Nottingham Jobs (part ESF funded), City Centre Management Team and link to key teams within the council, such as licensing, property, regeneration and transport strategy, to provide free, flexible support to businesses in the city during and post-pandemic.
To find out more, please visit the My Nottingham News website.
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