NEW GRANT BOOST FOR ISLE OF WIGHT’S SMALL TOURISM BUSINESSES

Communities that depend on tourism, such as the Isle of Wight, will receive a major boost from a new £10million Kick-starting Tourism Package, the Minister for Regional Growth and Local Government Simon Clarke MP has announced today (Friday).

Speaking at the Local Government Association’s annual conference, Minister Clarke confirmed the new funding will be distributed to communities immediately to kick start tourism in time for the Summer as part of the Government’s drive to boost the recovery of the economy.

The Kick-starting Tourism Package will give small businesses in tourist destinations grants of between £1,000 to £5,000 to help them adapt their businesses following the coronavirus pandemic.

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Businesses can use the funding to pay for specialist professional advice such as HR, legal or financial expertise, to adopt new technology and online systems or to purchase new equipment. 100% of the money will come from Government with no obligation for businesses to contribute financially.

Minister for Regional Growth and Local Government Simon Clarke MP said:

“When the Prime Minister announced the New Deal, he made it clear that the Government is determined to change the country for the better, uniting and  levelling up our regions.

“Kick-starting domestic tourism will be key to our economic recovery and that is why I am delighted to announce £10million in new funding for small businesses in tourist destinations, bringing jobs, investment, and financial support to the communities who need it the most.”

Funding will be allocated to each Local Growth Hubs based on how much of their employment base is linked to tourism and hospitality businesses.  This means that coastal and rural areas – with a bigger proportion of their economy focused on tourism, hospitality and allied sectors, will get a larger share of the funds.

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Activities supported through the £10million grant can include one-to-many events providing guidance to respond to coronavirus and small grants (£1,000-£5,000) to help businesses access specialist professional advice (e.g. HR, accountants, legal, financial, IT / digital) and purchase minor equipment to adapt or adopt new technology in order to continue to deliver business activity or diversify.

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Arthur
Arthur
1 year ago

As Abba said money money money !

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