Business Support Herts Growth Hub Programme
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
As part of the council’s response to
covid and our ongoing commitment to support businesses through the
pandemic the council is seeking to enter in to a partnership with
HGH to provide business advisory support and grants (revenue
funding) to businesses with 5-10 employees to support them to adapt
and grow their business.
Businesses of this size are most likely to benefit from this level of support, creating stronger, sustainable businesses.
The proposal would secure the services of Herts Growth Hub to undertake:
•11 month delivery programme
•Single scheme targeting businesses with 5 – 10 employees to maximise impact.
•£350k grant pot to be paid as direct grants to businesses. Maximum £5,000 grant and 100% intervention rate, delivering a minimum of 70 grants.
A jointly developed marketing campaign will be led and delivered by Watford Borough Council.
Note the funding of this is not included in the allocation of £500k.
£150k will be allocated to provide additional business advice as well as management and administrative services.
Agreed: that any support packages being undertaken by Hertfordshire Growth Hub be in the form of a ‘grant’ and subject to a grant agreement.
Urgent item?: Yes
Publication date: 03/05/2021
Date of decision: 26/04/2021