Apply now: Up to £20,000 innovation grants available to Croydon businesses
The Business Recovery & Innovation Grants Fund makes government funds available to support Croydon businesses impacted by the pandemic.
Businesses can apply for a one-off grant of up to £20,000 to buy equipment, websites or software to help them:
- become more resilient and innovate in a Covid-19 environment
- support larger projects or activities
- retain and employ employees
Croydon Council says that the funding must be spent on equipment that “helps provide resilience and recovery for local businesses” which then “supports local employment and community wealth”.
Who can apply for a grant?
Businesses that meet the following criteria are invited to submit an application:
- trading in Croydon on 5 January 2021 and is still active (the premises do not need to have been open)
- has a turnover of more than £15,000 a year
- can demonstrate at least 10% loss in income due to Covid-19
Home-based businesses are not eligible.
Priority will be given to businesses that are employing local and buying local, and applications will be assessed on a first-come, first-served basis.
Businesses will be asked to provide supporting evidence with their grant application, including a 2-year business plan.
How to apply
Applications are currently being accepted until midnight on Sunday, 30 May 2021. However, the council reserves the right to pause or close the scheme early depending on demand, so don’t delay to get your applications in.
For more information about the application process and to apply, visit the council’s website.
Croydon Digital business directory
Croydon businesses are encouraged to sign up to the Croydon Digital business directory, so that other businesses can use their services.
You can request a business listing via the Contribute page.
2 thoughts on “Apply now: Up to £20,000 innovation grants available to Croydon businesses”
Can you tell me when the next Business and innovation grants will be open. I got all my information together and it was quite lengthy by the deadline. I uploaded all information required. When I went to submit I was unable to do so. I had to research to find out why. On the council page it stated it had closed. Very disappointed.
Hi Dioan, I am sorry to hear this, the article states that applications were being accepted until 30 May. Do keep checking https://www.croydon.gov.uk/business-licences-and-tenders/running-business/business-support-and-advice/support-grants-businesses-0 for updates regarding business grants.