A fund created to help small businesses in the Yorkshire and Humber region affected by the recent floods has been doubled to £2m, it was announced yesterday.
Earlier this week secretary of state for communities and local government Hazel Blears quantified the scale of devastation wreaked by the floods, which affected 7,000 businesses and 31,200 homes.
Speaking yesterday, chief executive of Regional Development Agency Yorkshire Forward Tom Riordan confirmed that the recovery fund for small businesses in the region has been doubled from £1m to £2m.
Riordan also confirmed that the first payment has now been sent to a company in Rotherham, just seven working days after the fund was made available and the helpline opened.
The announcement was made following a visit by secretary of state for the Department of Business, Enterprise and Regulatory Reform (DBERR) John Hutton to flood-hit areas of the region.
Riordan said: “The secretary of state has seen firsthand the extent of the damage caused by floodwater, and what needs to be done to restore the region.
“He has also witnessed the resilience of Yorkshire businesses, many of them back in business within days.”
The funding is available to small businesses that have sustained damage to premises or stock as a result of the floods.
Small and medium-sized businesses can apply for a grant of up to £2,500 each to help with their ‘immediate recovery needs’.
Following his visit yesterday, Hutton said: “Machinery needs to be replaced, buildings have to be dried out and repaired, bills have to be paid, customers contacted and jobs preserved.
“Every flooded home and school is important, but businesses matter too. They provide jobs as well as vital goods and services.”
Last week, the East Midlands Development Agency (EMDA) announced that it was investing £500,000 into a similar fund for small businesses in the East Midlands area.
For more information, visit www.yorkshire-forward.com or www.emda.org.uk
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