BUSINESS FLOOD RECOVERY FUND
Our business flood recovery fund has been set up to support flood affected businesses with capital investment. Grants of between £5,000 and £100,000 are available to eligible businesses.
The type of capital investment that this fund could support includes:
- Investment in new equipment and machinery
- Repair, testing and refurbishment of existing machinery
- Repair and refurbishment of premises
- Relocation to new premises (including moving of equipment/machinery and fit out of premises)
- Installation of internal flood resilience measures (e.g. installation of mezzanine floor).
The fund cannot be used for:
- Replacement or replenishment of damaged stock
- External flood resilience measures
- Operational costs (property rental, salaries etc.)
The fund is designed to be a ‘next step’ for businesses that may have already received the business recovery and flood resilience grants that are currently being administered by local councils across Leeds City Region. Businesses that have not already received support through these initiatives may wish to contact their local councils in the first instance or call our business growth team on 0113 3481818 or email BusinessGrowth@the-lep.com to find out what is available in their area.
Am I eligible?
The fund is designed to be as flexible as possible to meet the needs of business, however the following criteria will apply:
- The fund will primarily only be available to small and medium sized businesses (employing fewer than 250 people). Applications from larger companies will be considered on a case-by-case basis
- Businesses should be in the LEP’s key growth sectors (health and life sciences, digital and creative industries, food and drink, low carbon and environmental industries, manufacturing, and financial and professional services)
- You must have private finance available. The maximum grant intervention rate will be 50% of eligible costs and the minimum total cost is £10,000. In practice, this means that if you were seeking a grant to cover 50% of £10,000 of capital investment you would need to have £5,000 of private sector finance to contribute
- The grant must complement and not duplicate any other public funding received by businesses in relation to flood response or resilience
How to apply
For further details about the business flood recovery fund or to find out about the other support that is available in your area, please contact our business growth team on 0113 3481818 or email BusinessGrowth@the-lep.com.
Alternatively, click here to download the application form. Completed application forms should be returned to BusinessGrowth@the-lep.com.
There is lots of advice available for flood affected businesses on the internet. We have pulled together a selection of guidance below to save you the time searching.
- The Federation of Small Businesses have put together a list of key actions for flood affected businesses
- If you are in catering, or food manufacture, specific advice is available from the Food Standards Agency
- You may need to contact your local Environmental Health Officer who will be employed by your local council. You can find contacts here.
- The Association of British Insurers has put together a guide to responding to major floods. It is written for a domestic audience, but much of the advice is applicable to businesses too
- When it’s time to recover your business, the Health and Safety Executive have a guide to ensure you stay safe
- If you are worried that your business may be affected by flooding in the future, the Environment Agency has put together a guide to preparing your business for flooding.