Devon Elevation Fund launched for local businesses and organisations

North Devon Gazette

Small businesses and local communities in the county are being invited to apply to a new grant scheme launched by Devon County Council.Â

 The scheme is offering grants of between £2,500 and £25,000 to projects that help businesses and community organisations to respond to the different trading environment resulting from Covid; plan for future growth and development; develop new products and services; improve infrastructure and assess the feasibility of future initiatives.Â

It is open to Small and Medium Enterprises (SMEs), including start-ups and social enterprises. Community organisations, including business/community groups, parish, town, and district/borough councils, can also apply.Â

The programme aims to encourage the creation of new businesses and new jobs, while safeguarding existing jobs. Start-ups, particularly from disadvantaged and underrepresented groups, can also be supported. Â

The fund will encourage opportunities for innovation and growth through the development of new products and feasibility studies for future projects to deliver innovation and change.Â

Priority will be given to projects that support the county plans for recovery and growth; and will help level-up economic and social inequalities. This includes supporting community and business sectors hardest hit by the Coronavirus pandemic, such as tourism, hospitality, retail and food and drink.Â

The DEF will fund predominantly revenue projects and grants are limited to projects that can complete activities by the end of May 2022. The project is being delivered locally by Devon County Council, North Devon +, Business Information Point and The Diverse Regeneration Company CIC. Devon County Council is also managing the UK Community Renewal Fund in Devon.Â

Councillor Rufus Gilbert, Devon County Council Cabinet Member for Economic Recovery and Skills, said: “The Covid-19 pandemic has created extensive challenges for businesses, from changing markets and working arrangements to cashflow pressures. The Devon Elevation Fund will respond to this by supporting businesses and communities across Devon with potential to adapt, innovate, diversify, and improve productivity.”Â

Applicants are encouraged to apply early as projects need to spend their funding allocation by May 2022.Â

To find out more about how to apply, please visit the Devon Elevation fund webpages.Â

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