Funding offered to firms in South West hit by floods

The South West of England Regional Development Agency (RDA) has followed in the footsteps of its northern counterparts, Yorkshire Forward and the East Midlands Development Agency (EMDA), by issuing a flood recovery fund for small businesses most severely affected.

Last week the South West RDA announced that £2m has been made available as an emergency fund for small and medium-sized businesses in the region.

The scheme, developed in conjunction with Gloucestershire First and its local partners, will provide support to smaller businesses, helping them to develop and implement business recovery plans.

Ian Thompson, South West RDA director of operations in the north of the region, commented: “The flooding we have seen in parts of South West England, especially across Gloucestershire, is devastating for many towns, communities and businesses.

“Keeping people safe and re-establishing essential services is clearly still a major priority but, for our part, we are keen to move quickly to try and help businesses recover from the worst of what has been thrown at them.

“This scheme will enable business advisers to work with companies to establish what urgent requirements businesses may have to help them move forward again.”

Businesses can apply for grants of up to £2,500, for urgent expenses such as clean-up costs, materials or alternative temporary accommodation. Longer term items such as business continuity planning and marketing and business advice will also be covered by the fund, the RDA announced.

The fund is designed to assist with support that is not covered by insurance cover, the RDA added.

Affected businesses should register by telephoning 0845 6009006, and arrangements will be made for them to be contacted by a business adviser.

Larger companies (over 250 employees) requiring advice and support as a result of flooding should contact Gloucestershire First on (01242) 864190.

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