A comprehensive package of discretionary funding will be used to support local economic recovery and help businesses across Bournemouth, Christchurch and Poole bounce back from COVID-19. The funding will be split to target various different organisations both for direct grants and for wider business support measures.
£750,000 Exceptional Circumstances Fund will be launching next week. This will target those businesses who have suffered a significant reduction in income but that have not received any grant support so far. Varying levels of grants may be awarded up to £10,000. Further details for this scheme will be released next week and organisations will have to apply to be considered for the grants.
BCP Council’s wider package of support will also allocate budgets to the following:
- R3 Economy Recovery Taskforce groups
- Bournemouth Town Centre BID, Bournemouth Coastal BID and Poole BID
- Local business support organisations
- Resourcing of Economic Development and regeneration projects
- Bounce Back Challenge Fund whereby businesses and organisations can put forward applications for either small scale (£15,000) or large scale (£70,000) projects that assist with the recovery of the economy, improve our localities and are innovative.
These schemes are very close to being finalised and details will follow in early April.