The Watford Business Growth Grant is undergoing a significant expansion, as the amount of funding available has been increased and the parameters for eligibility have been relaxed, to allow more small businesses in Watford to benefit from the programme.
The Watford Business Growth Grant initially launched in May this year, delivered in partnership with the Hertfordshire Growth Hub. It provides expert business advice and funding assistance for small businesses in Watford which have been impacted by the Covid-19 pandemic, to help them to grow.
The extended grant’s conditions are now as follows:
The grant is now available to businesses with between 5 and 20 employees. (Previously, between 5 and 10 employees).
The grant can now award up to £10,000 per business. (Previously the limit was £5,000).
Businesses which are eligible for a Restart grant can now also apply to the Watford Business Growth Grant, where previously they were ineligible.
The overall funding pot for the grant is now £440,000, up from £350,000.
To find out more and express interest in the grant, just fill in the form at https://www.watfordbusiness.com/business-growth-grant.
Once the form has been submitted, the business will be contacted by a representative from the Hertfordshire Growth Hub, who will discuss the needs of the business and their eligibility for the grant. All businesses will receive bespoke one to one business advice from one of the Growth Hub’s business experts.
Elected Mayor of Watford Peter Taylor, who launched the expanded grant on Monday at the Watford Business Festival, praised the expansion of an exciting resource for local businesses. “I am delighted to announce today an expansion of the programme which will enable even more businesses to benefit,” he said. “The additional funding we’ve secured and the expanded eligibility criteria will ensure we’re able to help more people than ever before, and will be a significant opportunity for businesses in Watford looking to achieve their full growth potential. This type of investment in local business is one of the most important things we can do to boost recovery, support growth and increase employment.”
Liza Armstrong, Head of Service for Hertfordshire Growth Hub, said: “We are pleased to be working with Watford District Council to support local businesses who want to continue adapting and growing following the Pandemic. We are providing targeted support to help access grant funding and seek specialist external advice during this crucial time of economic recovery. With these changes, this is now an even greater opportunity for more businesses to meet with our experienced business advisers who will provide 1-2-1 support, discuss their challenges, and agree key actions to enable business growth.”