Sunday 31st May 2020
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£10m package launched to help Norfolk and Suffolk businesses

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A new business resilience and recovery funding scheme has been launched as part of a £10 million package from New Anglia LEP to support Norfolk and Suffolk businesses through the pandemic and into recovery. The new £3.5 million resilience and recovery scheme will provide grants to support short-term projects and longer-term recovery and diversification projects.

The package also includes a new ‘growth through innovation fund’ to support firms investing in R &D with grants from £1-25,000 and a growing business fund which will provide capital grants from £25-500,000. Meanwhile a fund to kickstart development projects and sites and a small grant scheme which provides capital sums from £1-25,000 is also included. Access to angel investment through New Anglia Capital and grants for agri-food businesses through the Eastern Agri-Tech scheme is also offered.

Doug Field, chair of New Anglia LEP, said: “We know that businesses need our help. They need support and funding to survive the immediate challenges of lockdown – the economic, health and social crisis which we are all dealing with. But we know they will also need our help to get back on their feet, to grow, innovate and flourish in the future.”