New £50k grant scheme becomes available to businesses in Bucks and Milton Keynes

New funding has become available to support businesses in Milton Keynes and beyond, that are struggling following the unique challenges of the pandemic.

The new scheme opened at 10am this morning (October 4), the recovery funding is aimed at businesses looking to invest in new technologies, plant equipment, machinery, or fixtures.

The recovery and resilience grant scheme covers South East Midlands firms, including: Bucks and Milton Keynes.

Grants of between £5,000 and £50,000 will be available to businesses, it covers a maximum of 50% of the total price of a project and are designed to aid future recovery and as such there is a requirement for businesses to plan for jobs to be created as a result.

As a guide, businesses are expected to create one job per £10,000 of grant.

The funding is delivered by SEMLEP’s growth hub, and part-funded by the Getting Building Fund and the European Regional Development Fund (ERDF).

Hilary Chipping, chief executive SEMLEP said, “It’s still a very uncertain time for many businesses, so it’s wonderful to be able to give businesses access to funding that will encourage them to make capital investments. This will not only help accelerate the short-term recovery of the local economy, but lay the foundations for long-lasting, sustainable growth.”

To apply business owners and directors need to fill in a expression of interest form. Suitable ideas are then discussed in one-to-one with business advisors.

The deadline to express an interest is 10am on Monday October 18, unless SEMLEP changes its mind.

The final applications must be completed by November 28.

Amanda O’Donoghue, growth hub project manager said, “This programme is such a great opportunity for us to really make a difference for businesses in our area. It’s fantastic seeing the passion and ingenuity that local businesses bring to us, and I’m proud to be able to provide the funding that will help make their plans a reality.”

More information is available online here, while business advisors are available to discuss the process further on 0300 01234 35.

Editor's note: the original version of this article said the grant was available to Aylesbury businesses. That is incorrect, boundaries changed last year, so unfortunately this scheme isn’t available to businesses in Aylesbury.