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Business and Innovation Projects, News - 06 August 2020

D2N2 Growth Hub to receive share of £20m grant to boost SME recovery

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The D2N2 Growth Hub will receive a share of £20 million in grants to boost SME business recovery, it has been announced.

With the Government making funds available to benefit thousands of smaller businesses in England as they recover from the effects of the coronavirus pandemic, the D2N2 Growth Hub will administer the awarding of grants to businesses in Derby, Derbyshire, Nottingham, and Nottinghamshire.

Small and medium-sized businesses will have access to grants of between £1,000 – £5,000 to help them purchase new technology and other equipment as well as professional, legal, financial or other advice to help them get back on track.

The D2N2 Growth Hub is currently finalising the application process for these grants and will provide further information on the eligibility criteria as soon as it’s available.

Funding is being provided via the European Regional Development Fund.

Minister for Regional Growth and Local Government, Simon Clarke MP said: “We have always said that we would stand behind our businesses and communities as we rebuild following the coronavirus pandemic. This new funding does exactly that.”

“Businesses will be able to use these new grants to pay for the expertise, equipment and technology they need to adapt, recover and rebuild.”

“Small and medium-sized businesses are the beating heart of communities; they provide employment and contribute significantly to local economies and we are determined to give them the support they need to continue to thrive.”

D2N2 Growth Hub

The D2N2 Growth Hub, set up to boost competitiveness amongst SMEs in the Derbyshire and Nottinghamshire region, is part-funded by the European Regional Development Fund (ERDF) via D2N2.

As part of its remit, the organisation offers support to start-ups, growing businesses, and companies who are ready to scale up their operations.

The D2N2 Growth Hub has access to a variety of funding solutions for businesses and their business advisers will help guide SMEs to the best meet the needs of their business.

European Regional Development Fund

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