Launch of Stockport Economic Recovery Fund

Stockport Council has announced plans to boost recovery for local businesses to the tune of £3.2 million, as they start to re-open as national restrictions are eased. The Economic Recovery Fund provides for 5 new business grant streams through the Additional Restrictions Grant funding.

Applications for the current Additional Restrictions Grant scheme, and the Micro-Business grant scheme will close on 30/04/21 and no further applications will be accepted for these original ARG schemes after that date.

Five streams will be available under the Economic Recovery Fund scheme:

  • Stockport Economic Recovery Boost Grant:
    The fund will help over 260 closed businesses in April, May and June that are currently being supported through the ARG funding, to reopen and begin trading. This grant will be provided to businesses that have been successful in applying for the original ARG scheme for closed businesses that have separate commercial premises with ongoing costs. Businesses do not need to apply for this scheme as their details are already held and will be used to identify eligible businesses which will be contacted during April 2021 about their further grant payment under this scheme.
  • Stockport Economic Recovery Market Place and Underbanks, Trader Independent Retailer Boost Grant:
    This grant is to support smaller, independent retail operators with premises in the market place and Underbanks area only, to reopen and restart their businesses. This is a one-off fixed grant of £3,000 for each business that successfully applies. Businesses that wish to apply should email skladgrants@stockport.gov.uk asking for the eligibility and application guidance and application form for the Stockport Economic Recovery Market Place & Underbanks Independent Retailer Boost Grant. Applications for this grant scheme will close on 31/05/2021
  • Stockport Economic Recovery Hospitality Sector Boost Grant:
    This grant is for supporting the reopening and restart of hospitality sector businesses with their own premises in Stockport. This is a one-off fixed grant of £5,000 for each business that successfully applies. Businesses that wish to apply should email skladgrants@stockport.gov.uk asking for the eligibility and application guidance and application form for the Stockport Economic Recovery Hospitality Sector Boost Grant. Applications for this grant scheme will close on 31/05/2021.
  • Stockport Economic Recovery Covid Capital Grant:
    This grant is for businesses to apply for to make changes to premises and/or to buy additional kit to support reopening and operating in a covid secure way. Businesses that wish to apply should email skladgrants@stockport.gov.uk asking for the eligibility and application guidance and application form for the Stockport Economic Recovery Covid Capital Grant. Applications for this grant scheme will close on 31/05/2021.
  • Stockport Economic Recovery Locality Boost Grant:
    This grant is for district centre trading associations, or their equivalent, to bid in to for their local areas to run stimulus events to drive local footfall and customers into local areas to use local businesses that are reopening. Where localities do not have training associations that can lead a bid, an equivalent lead accountable body or local business will need to be agreed by businesses in that locality to lead as the single point of contact for their area. There will only be one application accepted and one grant, if successful, provided per locality. Businesses that wish to apply should email skladgrants@stockport.gov.uk asking for the eligibility and application guidance and application form for the Stockport Economic Recovery Locality Boost Grant. Applications for this grant scheme will close on 17/05/2021 (please note this is earlier than for the other schemes).

Any remaining funds will be used as contingency to cover additional applications for the main ARG scheme up to 30th April; to cover any additional funding requirements set out under the five streams above and to assist any emerging businesses that require funding.

More information on the grant schemes, eligibility and how to apply will be published on the Council’s website later this week, as well as through the Council’s usual communications channels.

In response to the impact of Covid-19, to date, the Council had already allocated support for economic recovery and also delivered a business rates related scheme of around £20 million to 9,311 businesses, as well £3.4 million paid to 957 businesses in the form of discretionary grants. Businesses have also been able to take advantage of a number of business support measures, including seminars, webcasts, workshops, peer support and practical advice. 

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