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Colchester Borough Council backs extra financial support for local businesses

PUBLISHED: 12 March 2021

The Leader of Colchester Borough Council, Cllr Mark Cory, has given his backing to a simple countywide approach for business grants and additional financial support for local businesses announced today (11 March).

Local Authorities across Essex have worked together to create a single approach for the use of Essex County Council’s (ECC’s) £13 million grant funding, which aims to support businesses previously excluded from the main Government schemes and help them become Covid secure.

ECC will be providing £7.2million across Essex for self-employed people and small and medium-sized businesses who have previously fallen outside the scope of central Government Covid-19 financial support schemes.

Sums of up to £5,000 will be available through Colchester’s discretionary grant scheme, which is also funded through the Government’s Additional Restrictions Grant. Businesses who haven’t applied already are encouraged to complete an online application form. Those who have already done so need not apply again and will be considered against the new criteria.

ECC has also committed £4.4million to the Business Adaptation Grant scheme, which offers grants of up to £1,500 to the self-employed and small- and medium-sized firms to make adaptations to their businesses, help keep staff in employment, improve their business, and ensure the health and safety of employees and customers. The grants can also be used to develop new operating practices such as home working, or to capitalise on new opportunities such as new click & collect, takeaway or delivery services.

Last week (24 February 2021) data from the Department for Business, Energy and Industrial Strategy revealed Colchester Borough Council third in the country for swift distribution of Covid Discretionary Business Support Grants, having awarded 92% of available funds up to 18 January 2021.

Cllr Mark Cory, Leader of Colchester Borough Council said: “We have continued to push hard for financial assistance to be given to struggling businesses in Colchester, so I am glad we have been able to agree a mechanism with Essex County Council to make it easier for businesses to access support.

“This additional funding will offer vital help for hundreds of businesses in the borough, and we encourage applications.

“Colchester was in the top three councils nationwide to give out the most money, most quickly, to our local businesses. We are determined to give all the support we can to businesses, to help make them profitable as they emerge from lockdown. This will help jobs, recovery, and offer the best possible experience to residents and visitors as life begins to return to normal in the coming months.”

Additional details of the financial support available, including eligibility criteria and how to apply can be found at: www.colchester.gov.uk/coronavirus/businesses.

More information on financial support available from Essex County Council can be read here.

Page last reviewed: 12 March 2021

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