By Gavin Mackintosh-
A support package worth an estimated £10 million has been announced to help businesses in Norfolk and Suffolk struggling with the coronavirus outbreak.
Provided by New Anglia LEP, the money, the package based on a £3.5m Business Resilience and Recovery Scheme will be given to businesses either as short-term grants or funding to help recovery as the crisis abates. The news comes as it emerges that number of small company owners across Norfolk and Suffolk have not made a claim for available grant aid to help them through the coronavirus crisis, according to a regional business body
The New Growth Through Innovation Fund, offering grants of £1,000-£25,000 for businesses investing in research and development and capital grants of between £25,000-£500,000.
Businesses are being offered access to angel investment through New Anglia Capital, as well as grants for agri-food businesses through the Eastern Agri-Tech scheme.
The scheme is also available to support businesses with longer-term recovery plans and moves into new markets. The funding is designed to support firms both during the crisis and afterwards, according to Doug Field, Chair of New Anglia LEP.
He said: “We know that businesses need our help. They need support and funding to survive the immediate challenges of lockdown – the economic, health and social crisis which we are all dealing with.
“But we know they will also need our help to get back on their feet, to grow, innovate and flourish in the future.” The Growing Business Fund which provides capital grants of £25,000-£500,000. The LEP which says the funds aims to “kickstart development project and sites have also launched several other funding schemes
The New Growth Through Innovation Fund offers grants of £1,000-£25,000 for businesses investing in research and development.
Businesses are being offered access to angel investment through New Anglia Capital, as well as grants for agri-food businesses through the Eastern Agri-Tech scheme.The LEP have been offering bespoke advice to businesses in Norfolk and Suffolk during the outbreak. helping them understand what help is available for them.”