Applications to the Business Recovery and Growth Fund opened on Monday 4 October. It provides up to 50% of eligible project costs (excluding VAT) to a maximum of £20,000 to fund specific activities to help businesses recover, adapt, and diversify their operations.

The fund is also designed to help the local economy recover from the coronavirus pandemic by contributing to the creation of employment opportunities and new jobs in North Lanarkshire.

Grants will be available during 2021/22 to micro, small or medium-sized businesses (up to 250 employees) for capital and infrastructure projects, as well as for consultancy, exhibition and training support.

“As the country moves out of covid restrictions, we want to support businesses in North Lanarkshire to not only recover but to grow and develop their sales and markets,” said Councillor Allan Graham, Convener of the Enterprise and Growth Committee.

“Through this new Business Recovery and Growth Fund we are providing financial support to build for the future, helping to create new products or services, support innovation and technology, and open up new markets. It can also help businesses to reduce their carbon use, an increasingly important objective for the business sector, particularly with the current focus on the COP26 conference in Glasgow in November.

“In turn, this will lead to new job and training opportunities within North Lanarkshire and drive economic growth to the benefit of everyone.”

Capital and infrastructure grants are available up to £20,000 while funding for consultancy support is up to £5,000, and exhibition and training support up to £4,000.

The Business Recovery and Growth Fund is part-funded by the European Regional Development Fund (ERDF) through an allocation from the £2,033,496 grant awarded to North Lanarkshire and South Lanarkshire council from Scotland’s European Structural Funds 2014-2020 Programme.