​ £1m fund for business innovation grants for Bromley businesses

Posted on: March 12, 2021

Businesses in Bromley are being encouraged to apply for a new business innovation grant of up to £10k, with the application window now open for one month.

This latest grant is designed to help support businesses planning to introduce new ideas or changes to improve their business.

The launch of the fund follows feedback from businesses suggesting that support for innovation would allow businesses to diversify or ‘pivot’ their offer to respond to post-COVID challenges. This could result in new products or services; new or improved business processes; changes in the way products are marketed; or the introduction of new technology. Additional support is available to complete the application, if required.

The £1m business innovation grant scheme is funded from the Additional Restrictions Grant funding from central government, which is intended to support business during the COVID-19 pandemic and aid recovery.

Interested applicants must be able to demonstrate a deliverable and well considered business plan, with applicants needing to apply on or before 12 April 2021 deadline. All applications received will then be assessed in line with the eligibility criteria, with successful applicants then being contacted about a grant award.

Further details about the business innovation grant are available on the council’s website, with applicants advised to submit an online application.

Interested businesses wanting to know when other business grant schemes become available are advised to subscribe to the business newsletter www.bromley.gov.uk/business where details of new grants will be outlined when they are available.