Business Recovery & Innovation Grants Fund
The Business Recovery & Innovation Grants Fund from Croydon Council supports local businesses to become more resilient.
Businesses in Croydon can apply for a one-off grant of up to £20,000 to buy equipment, websites or software to help them:
- Become more resilient and innovate in a COVID-19 environment.
- Support larger projects or activities.
- Retain and take on employees.
The grant must be spent on equipment that helps provide resilience and recovery for local businesses, which in turn supports local employment and community wealth.
Priority will be given to businesses that are employing local people or buying local. Applications will be assessed on a first-come, first-served basis.
Who can apply?
All types of business organisations, including but not limited to:
- Limited companies.
- Community interest companies.
- Limited liability partnerships.
- Sole traders (market traders must operate a minimum of three days per week in Croydon).
- Social enterprises (must be able to demonstrate a clear social mission addressed by the social enterprise).
- Charities with an active trading arm.
The current deadline for applications is Sunday 30 May 2021, at midnight.
To be eligible, businesses must:
- Have a registered or trading address in the London Borough of Croydon.
- Have been trading on the 5 January 2021 (note, this means your business must be active – your premises do not need to have been open).
- Have seen a minimum 10% reduction in income (which can be evidenced).
- Have a turnover of £15,000 per annum.
- Have a commercial lease or mortgage (i.e. not be a home-based business).
Businesses not eligible include:
- Companies that are in administration, insolvent or where a striking-off notice has been made would not be eligible for funding under this scheme.
- Businesses that would exceed the state aid if given the grant.
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