Issue details

Issue details

Business Support Herts Growth Hub Programme

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.

Decision type: Key

Reason Key: Expenditure or Savings > £250,000;

Decision status: Recommendations Approved

Wards affected: ; (All Wards);

Notice of proposed decision first published: 03/05/2021

This decision will be taken under urgency procedures.

Reason for urgency:
The council needs to complete the grant within a specified period of time.

Department: Place Shaping and Corporate Performance

Contact: Tom Dobrashian, Group Head of Place Shaping Email: tom.dobrashian@watford.gov.uk.

Decisions

 

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