Durham Business Recovery Grant

Durham Business Recovery Grant

Durham Business Recovery Grant

The pandemic has had a significant impact on our economy with recovery likely to take time, particularly given the potential for restrictions to continue for some time. Businesses have shown amazing resilience and versatility during this period with many adopting new ways of working, adapting their products/services or entering new markets entirely.

To support local businesses in looking forward and meeting the challenge of recovery, Durham County Council has introduced a £5 million Durham Business Recovery Grant. Open to businesses in all sectors located in the County, the grant is aimed at those with a credible plan to adapt and recover from the effects of COVID-19, but requiring financial support to implement their plan.

The grants range from a minimum of £1,000 up to a maximum of £40,000 and are able to contribute 75% towards eligible recovery plan costs, with the business expected to meet a quarter of the project cost.

The grants are not intended to provide crisis funding, general working capital or subsidise losses but can be used towards costs such as adapting operational models and working practices, adapting premises or business models to attract new customers or visitors, developing and marketing new product offerings or other relevant costs to meet a defined need that will help to increase sales.

If your business meets these initial eligibility checks:

  • Has an operational base and employees in County Durham
  • Was established prior to 11 March 2020
  • Set up for-profit and registered to pay tax on profit (social enterprises must be able to demonstrate generating 51%+ of sales from commercial activity)
  • Employs fewer than 250 in the County
  • Operates a business bank account, separating personal and business finance
  • Able to demonstrate a significant adverse impact from COVID-19
  • Able to demonstrate solvency
  • Able to outline a credible and costed recovery plan
  • Able to fund their share of the recovery plan
  • Has not already started the project

Applications will open at 10am on Thursday 14th January 2021.

Click here to visit the Durham County Council website for further information and to apply on-line.

For further assistance with applications please email:  dbopenquiries@durham.gov.uk