Businesses across County Durham are set to benefit from a new £5m grant funded by Durham County Council to support them in implementing recovery plans.
The grant scheme, overseen by Business Durham, the economic development arm of Durham County Council, will help businesses in their efforts to adapt and recover from the COVID-19 pandemic, develop new ways of working and ultimately save many jobs across the county.
The scheme will offer grants from £1,000 to £40,000 and is open to all companies across County Durham so long as they were established prior to March 11, 2020.
Cllr Simon Henig, Leader of Durham County Council, said: “The coronavirus pandemic is having a significant and ongoing impact on businesses and the economy across County Durham and with current and the potential for further lockdown restrictions it is vital we do what we can to help businesses recover.”
Cllr Carl Marshall Durham County Council’s cabinet member for economic regeneration, said: “Through the support from the Durham Business Recovery Grant, we can ensure businesses with recovery plans can access the necessary financial assistance to move forward, enabling them to adapt and thrive while safeguarding jobs. By supporting companies in our county, we are in turn ensuring our economy is resilient and in the best possible shape to in time recover from the impact of the pandemic.”
Amy Harhoff, Corporate Director of Regeneration, Economy and Growth at Durham County Council, said: “The months ahead are going to continue to be challenging for businesses, but we know companies across their County need to look ahead and develop their plans to adapt and recover. The Durham Business Recovery Grant will provide much needed financial support to enable companies to take their plans forward.
“The Durham Business Recovery Grant differs from government grants as it is designed to help businesses achieve their plans for new ways of working. We are looking for businesses from all sectors with a credible plan to look to the future and hope this grant, along with all the other support available from Business Durham, Government and other organisations, can help business thrive in 2021.”