Business Resilience and Recovery Programme
Pro
ramme Overview - What is the Business Resilience and Recover
Pro
ramme.
What is the Overall Pro
ramme Status?
Overall:
Green
Delivery:
Green
Spend:
Green
Outputs:
Green
What are our Ke
U
dates?
What is our Financial Position?
Forecast Actual
Actual Actual Actual
Actual Actual
2020/21 Qtr 1 2020/21 Qtr 2 2020/21 Qtr 3 2020/21 Qtr 4 2020/21 Qtr 1 2021/22 Qtr 2 Actual
00
£3,500,000.00 £3,500,000.00 £2,709,864.00 £3,144,185.00 £1,808,546.00 £1,330,036.00 £382,070.00
£3,500,000.00 £290,639.00 £1,047,528.00 £1,375,853.00 £691,832.00 £699,315.00 £335,311.00
£3,500,000.00 £790,136.00 £2,189,359.00 £1,335,639.00 £478,510.00 £547,966.00 £136,651.00
£3,500,000.00 £2,709,864.00 £520,505.00 £1,808,546.00 £1,330,036.00 £782,070.00 £245,419.00
What is our contribution to the Economic Strategy?
Quarter/
ear:
2020/21 QTR 1 2021/22 QTR 2 2021/22
Total
201 15 10 226
2846.5 300 129 3,276
£7,455,396.09
£1,081,297.51 £583,466.40 £9,120,160.00
£0.00
£0.00 £0.00
TBC
TBC TBC
What is the Project Delivery Status?
What are the Next Steps?
Commercial Floor Space (SqM
•The Business Resilience and Recovery Scheme was launched on Monday 4th May and the scheme has proved popular with several enquiries already being handled, developed, and
progressed through the Growth Hub.
•140 businesses have now been supported, the most recent being ‘The Food Company UK Ltd’, awarded £50,000.
•Total R&R grant value awarded to date is £5,478,261 with a total projects value of £14,598,420. Private match of £9,120,160 has been committed. £4,440,478 has been paid out to 131
businesses (103 have had their final payments).
•Unallocated funding (including underspend of £90,556) is £335,975.
•Investment in these 140 businesses will create 226 FTEs and safeguard 3275.5.
•Of the 140 businesses supported, 85 are in Norfolk (£3,318,374) and 55 are in Suffolk (£2,159,887).
•11 business applications are in the pipeline with a total grant ask of £407,350, these applications are being monitored and will be approved on a first come first served basis.
The first tranche of funding for the programme (from the LGF) is now fully committed. Expenditure of the LGF was due by the end of the calendar
year (LGF - £3,500,000). The programme has now started allocating funds from the Get Building Fund allocation (£2,623,680).
£400,000 was transferred to GBF in quarter 2. £ 5,478,261 has been awarded to 140 projects, representing 95.71% of the total programme budget.
£4,440,478 has been paid out to 131 businesses (103 of which have had their final payments). NB: Not every business receives an upfront payment.
£ 5,478,261 has been awarded to 140 projects. The has enabled 140 businesses and their associated supply chains to start the journey to recover
from the consequences of COVID-19 restrictions. 226 FTEs have been created and 3275.5 FTEs have been safeguarded.
LGF Committed = £3,569,007 (Allocating grant awards in full to one fund means that the t
otal exceeds £3,500,000 LGF allocation slightly).
•91 businesses supported in total
Getting Building Fund Committed – £1,909,254
•49 businesses supported in total
Qtr 2- The Growth Hub will continue to signpost, develop and progress R&R applications to the Finance East's Due Diligence Team. Regular Team meetings are held to review processes
and suggest improvements to the scheme and its wider dissemination and take up.
The Business Resilience and Recovery Scheme provides support to businesses in Norfolk and Suffolk that have been affected by the Covid-19 Coronavirus and are looking at ways to
recover and strengthen their business performance. Companies applying under the scheme can apply for a 50% grant towards capital costs involved in initial resilience and future recovery
of their business. A grant of £25,000 up to a maximum of £50,000 is available to support projects.
Figures reflect the period to 31/08/2021
Private Match (£)
Outputs – cumulative from 04/05/2020 to 09/07/2021
Financial Year
Number of Direct Full-Time Jobs Created
Committed
Carried forward
Financials (£ million)
Brought Forward
LEP Allocation
Spend [Act/Fcst]
Number of Direct Full-Time Jobs Safeguarded
The Business Resilience and Recovery scheme has supported 140 businesses to date (awarding £5,478,261). 131 businesses have received initial
payments (£2,422,197) and 103 have had their final payments (£2,018,281).
Public Match (£)
£0.00
£1,000,000.00
£2,000,000.00
£3,000,000.00
£4,000,000.00
Q1‐20/21 Q2‐20/21 Q3‐20/21 Q4‐20/21 Q1‐21/22 Q2‐21/22
R&RAllocation
AxisTitle
BusinessResilienceandRecoveryProgramme
Qtrlyawarded QtrlyClaims R&RBudgetAllocated
Thisfigurecombinesthebalanceofthe
LGF(£520,505)andtheadditional
£2,623,680fromtheGetBuildingFund