What is the Watford Business Growth Grant?
Watford Borough Council is partnering with Hertfordshire Growth Hub to deliver a programme of business advisory support and grants to Watford-based businesses that have between 5 and 10 employees, have been impacted by COVID-19 restrictions, and are in a position to grow.
For businesses who meet the application requirements, the programme will include:
One to one business advice and support from a Hertfordshire Growth Hub business adviser.
Assistance in identifying where actions can be taken to help improve business performance, including how grant funding can be used to drive innovation and growth.
The opportunity to apply for grant funding to help implement improvements, including specialist consultancy advice, and tools to improve efficiency and productivity.
Onward referral to other sources of business support relevant to your business needs.
Who can apply?
A business can apply if it meets the following criteria:
It has between 5 and 10 employees
It has the capability to grow.
It has not received or is eligible for a Restart Grant
It has been severely impacted by COVID-19 restrictions over the past 14 months
It may or may not pay business rates.
Photocaption: Andrew Ajoodha, Founder of local digital agency Wirebox UK with Elected Mayor of Watford Peter Taylor
How much is the grant worth?
Businesses can apply for 100% of grants between £2,000 and £5,000.
What can the grant be spent on?
Grants are primarily to fund specialist consultancy and tools to improve business performance, e.g. software, and in some circumstances capital purchases, e.g. equipment, to help your business grow.
Grants can also be used as match funding to unlock larger business grants.
How long does the programme run for?
The programme will close on 31 March 2022
Watford Borough Council has allocated £350,000 in grant money. The grant element of the programme will close when all of the grant monies have been awarded. This may be sooner than 31 March 2022.
Who decides whether the grant is awarded?
Hertfordshire Growth Hub decide which businesses to support, as well as how much funding to award. Hertfordshire Growth Hub business advisers will support businesses to develop their grant applications. Submitted applications will be independently assessed by a Growth Hub grants panel who will decide the outcome of each application and the amount to award. The grants panel may decide to award a lower amount than that applied for.
All grant applicants will benefit from one-to-one business advice and support regardless of the outcome of their application.
Why should I apply?
If your business has been adversely affected by the pandemic, this grant could help pay for specialist expertise, tools to improve business performance and equipment. Even if your business is not awarded a grant, applying to the programme will still allow you to access the expert business advice of the Hertfordshire Growth Hub, to help your business grow.
What are the benefits?
All applicants will benefit from free business advice and support from the experts at the Hertfordshire Growth Hub. If your application for a grant is successful, your business can be awarded between £2,000 and £5,000 to be spent on business consultation services, business tools and equipment.
How does the application process work?
If you are interested in applying to the grant scheme you must register your interest by completing a short Expression of Interest (EOI) form via the link below.
Your form will then be checked through by our partners at Exemplas and you will be contacted within three working days to determine your eligibility for advice, support and a grant.
Any grant money awarded needs to be spent upfront by you – before receiving the payment. You will be supported through the application process by business specialists, making it as quick, simple and easy as possible for you.