New grants to support businesses and boost local economy
05th August 2021
A £350,000 fund has been launched to support businesses across Three Rivers District with the aim of boosting the post-pandemic economic recovery.
Three Rivers District Council has agreed the new fund in a bid to support local businesses, drive innovation, growth, efficiency and productivity for companies hit by Covid restrictions.
Three Rivers Business Growth Grants are worth between £2,000 and £5,000 and are designed to be spent on business consultation services as well as business tools and equipment. The investment is a part of the council’s recovery plans and is aimed at supporting and creating jobs and growth.
The district council is partnering with Hertfordshire Growth Hub, powered by Hertfordshire Local Enterprise Partnership, to deliver the new programme of support.
Grants are available for businesses which employ between five and 19 people, have the capability to grow and have been affected by Covid restrictions over the past 14 months.
Cllr Sarah Nelmes, Leader of Three Rivers District Council, said: "We are absolutely committed to working with local businesses to ensure that as a district we bounce back better with a vibrant and sustainable economy that is fit for the future in the world after the pandemic.
"This exciting new support is designed to help local businesses prosper. Since the start of the pandemic, we have been working with local businesses to help them to access support and help them to adapt so that they can survive and look to grow at the most challenging of times.”
Hertfordshire Growth Hub will decide which businesses to support, as well as how much funding to award. Business advisers will support businesses to develop their grant applications. Submitted applications will be independently assessed by the HGH grants panel which will decide the outcome of each application and the amount to award.
Sian Ryan, Head of Business Operations for Hertfordshire Growth Hub, said: “We are delighted to be working with Three Rivers District Council to support local businesses to continue to adapt and grow following the pandemic. This targeted support will provide access to grant funding to help businesses seek specialist external advice at such a crucial time to ensure economic recovery. Also, this will provide an important opportunity for businesses to access 1-2-1 support to discuss their challenges and agree key actions to enable business growth, with a dedicated, trusted and experienced business adviser.”