A new business fund – created to support Cherwell District-based companies to move into an effective renewal phase following the COVID-19 pandemic – is set to be launched by the Oxfordshire Local Enterprise Partnership.
The new scheme – which is being delivered and led by the OxLEP Business Team on behalf of Cherwell District Council – will play a key role in ensuring that Cherwell-based businesses are able to run as efficiently as possible and remain productive, particularly in-light of the pandemic. Funding between £5,000 and £20,000 is available.
Through funding, eligible businesses will be expected to deliver outcomes that will accelerate investment across a number of key business areas.
This includes; strengthening overall business performance, providing supply chain resilience, supporting a transition to net-zero, driving technology and innovation adoption, as well as backing an increase in a business’ sales operation and market share.
The Cherwell Business Adaptation Fund aims to support eligible businesses through grants, ranging between £5,000 and £20,000 per business for capital and/or revenue-based projects.
To apply for a grant, all interested businesses must be based in the Cherwell district, attend or watch a recording of a webinar and have also been in operation for at least one financial year. Further eligibility criteria will also apply.
The Cherwell Business Adaptation Fund will open for applications via the OxLEP Business website on 10 May. Applicants need to complete a pre-qualifying process, which will close on or before 27 May (subject to the level of interest), before applying.
The closing date for full applications is at 5pm on 7 June. All queries relating to the fund must be submitted to OxLEP Business by 30 May.