Stockport Council announce £3.2m Economic Recovery Fund

The plans will boost recovery for businesses as we ease out of lockdown

Stockport Council has today (Thursday 25 March) announced plans to boost recovery for businesses to the tune of £3.2m - £1.2m more than the £2m previously announced at February's Budget Council - as they start to re-open as national restrictions are eased.

The Economic Recovery Fund will see a series of Additional Restrictions Grant streams that can be applied for, as well as the opportunity for local areas to bid for funding to stimulate footfall and encourage customers to shop local and support business in their area.

Cllr David Meller, Cabinet Member for Economy and Regeneration at Stockport Council, said: “The last year has been devastating for our business community and we are well aware of the impact this has had on them.

"We want to do everything we can to ensure businesses are supported as we start to open up and I am thrilled that we can allocate more than the £2m we previously announced by boosting this to £3.2m. I urge you to have a look at the packages of support available when we announce them next week.

“This is in addition to the grant funding that that has already been allocated to local businesses and although the last year has been challenging, I am confident that there are brighter time ahead. Indeed, work on our Future High Streets scheme is set to start soon, work on Underbanks is on-going and Stockport Exchange Phase 4 has been agreed. We are here to help as you navigate your way through the next few months and beyond.”

More information on the grant schemes, eligibility and how to apply will be published on the Council’s website next week, as well as through the Council’s usual communications channels.

In response to the impact of Covid-19, to date, the Council has already allocated support for economic recovery and also delivered a business rates related scheme of around £20m to 9,311 businesses, as well £3.4m paid to 957 businesses in the form of discretionary grants. Businesses have also been able to take advantage of a number of business support measures, including seminars, webcasts, workshops, peer support and practical advice.