Small businesses in Lincolnshire to benefit from £12m support package
Businesses could benefit from up to £10,000 through a grant scheme planned by Lincolnshire County Council.
In light of the economic impact of coronavirus, the council’s executive has proposed using some the authority’s reserves to provide a £12m package of support.
The support is particularly aimed at those that have not benefited from the government’s covid support schemes and smaller businesses with 50 employees or fewer.
Coun Martin Hill (Con), leader of the council, said: “We know local businesses have had a particularly tough time during the pandemic, so we want to make additional support available.
“Thanks to our careful financial management over the years, we do have reserves we can draw on in times of emergency, and now is the right time to do that.”
Coun Colin Davie, executive member for economic development, said: “Our small, local businesses are the backbone of the county economy – there are around 43,000 in Lincolnshire, and it is vital we help those that have had no help to ensure they survive the financial impact of the pandemic.
“The focus will be on businesses that have been unable to access the government’s covid support schemes, such as those that are less than a year old or without premises or home-based.”
He added that there are likely to be separate pots of money for specific needs, such as a digital technology grant and a village shop grant. These will be launched on a staggered basis, with the general grant scheme opening first.
“Once everything is in place, we will make sure businesses have time to collate the required information and documents before opening up the application process,” he said. “After that, grants will be allocated on a first-come, first-serve basis.”
The main grant scheme launches at noon on February 23, followed by the other schemes in early March.