Ipswich Borough Council set to offer more financial support for Ipswich businesses

Published28th September 2021

Next week (5 October), Ipswich Borough Council’s Executive will consider recommendations for more financial support for local businesses in Ipswich.

The two new schemes are:

  • A Business Hardship Grant for small Ipswich businesses at risk of closure due to ongoing losses caused by COVID-19; and
  • A Business Growth and Innovation Grant of up to £10,000 for local businesses who have identified a project, product, service or process that enables innovative recovery from the impact of COVID-19. The Council will fund up to half the project costs

If agreed, the Council will then have allocated the majority of the £4.8m Additional Restrictions Grant (ARG) funding received from central government with just £170,000 left to be allocated later in the financial year.

Councillor David Ellesmere, Ipswich Borough Council Leader, said: “Since March 2020 we have paid out over £4.1m in Additional Restrictions Grants to help Ipswich businesses survive through the incredibly tough trading conditions caused by COVID-19.

With this next phase of the scheme, we are proposing that we allocate the funding to support businesses still being affected badly by restrictions as well as help businesses to start looking forward beyond COVID-19, providing support for projects that create jobs, increase productivity or improve the town centre.”

View the papers for the Ipswich Borough Council Executive meeting on 5 October 2021.