Last week (7 September), the All-Party Parliamentary Group (APPG) on Fair Business Banking issued a report, “Scale up to level up: Reforming SME Finance”. The report…
As someone who acts for a lot of businesses based in the East Devon area, I was very interested to hear about the Innovation and Resilience Fund (IRF) which launched this week (14 September) through which businesses and organisations can apply for grants of:
- Up to £50,000 per individual business or organisation
- Up to £150,000 per collaborative bid (multiple businesses and organisations)
“The purpose of this scheme is to provide project grants to businesses and organisations in East Devon to help secure the area’s economic recovery. Project funding will be allocated to projects which help businesses innovate to improve competitiveness and strengthen resilience by adapting to a green and inclusive post-COVID economy” – see further below.
The total scheme allocation is circa £2m.
Key details as follows:
|Eligible applicants must (with some limited exemptions):||
|Eligible projects/ costs:||
|Grant thresholds – see above, with caveats:||
|Council objectives i.e., desired projects sought that achieve:||
The IRF will close to new expressions of interest either on 18 February 2022 or when the total scheme allocation has been consumed, whichever is soonest.
Two stage application process which starts with an expression of interest (which apparently takes 15 – 20 minutes to complete).
More details on the scheme can be found here, which contains links to FAQs and Policy Documents, the latter of which includes:
- some details of how applications will be assessed (section 7)
- priority groups (section 9)
PKF Francis Clark
We certainly think this scheme may be of interest to several of our clients and given the nature of the application process would highly recommend those interested look to complete an expression of interest at the earliest opportunity (after reading through the scheme guidance).
Anyone wishing to chat through a potential project can contact me or their usual point of contact at PKF Francis Clark.