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
2020/21 Qtr 1 2020/21 Qtr 2 2020/21 Qtr 3 2020/21 Qtr 4 2020/21 Qtr 1 2021/22
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
£3,500,000.00 £290,639.00 £1,047,528.00 £1,375,853.00 £691,832.00 £235,109.00
£3,500,000.00 £790,136.00 £2,189,359.00 £1,335,639.00 £478,510.00 £287,834.00
£3,500,000.00 £2,709,864.00 £520,505.00 £1,808,546.00 £1,330,036.00 £1,042,202.00
What is our contribution to the Economic Strategy?
Quarter/
ear:
Actual Qtr 1 Actual Qtr 2 Actual Qtr 3 Actual Qtr 4 QTR 1
10
40 126 19 21
706
1,180 647 234 168
£1,221,274.00
£3,431,035.00 £1,971,365.00 £1,035,540.00 £233,231.00
£0.00
£0.00 £0.00 £0.00 £0.00
TBC
TBC TBC TBC tbc
What is the Project Delivery Status?
What are the Next Steps?
LGF Committed = £3,594,054 (Allocating grant awards in full to one fund means that the t
otal exceeds £3,500,000 LGF allocation slightly).
•92 businesses supported in total
Getting Building Fund Committed – £1,487,424
•38 businesses supported in total
Qtr 1- 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 10/05/2020.
Private Match (£)
Outputs – cumulative from April 1st to 09/11/2020
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 130 businesses to date (£5,081,478). 118 businesses have received their first
payments (£2,237,964) and 76 have had their final payments (£1,402,997).
Public Match (£)
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.
•130 businesses have now been supported, the most recent being ‘Red Rose Chain’, awarded £50,000.
•Total R&R grant value awarded to date is £5,081,478 with a total projects value of £12,973,923. Private match of £7,892,445 has been committed. £3,640,961 has been paid out to 118
businesses (76 of which have had their final payments).
•Investment in these 130 businesses will create 216 FTEs and safeguard 2935.5.
•Of the 130 businesses supported, 79 are in Norfolk (£3,044,76) and 51 are in Suffolk (£2,037,002).
•There are 4 projects at Due Diligence stage with a potential grant value of £195,160. There are a further 7 projects with the Growth Hub with a potential grant value of £225,850.
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).
£ 5,081,478 has been awarded to 130 projects, representing 83% of the total programme budget. £3,640,961 has been paid out to 118 businesses
(76 of which have had their final payments).
£ 5,081,478 has been awarded to 130 projects. The has enabled 130 businesses and their associated supply chains to start the journey to recover
from the consequences of COVID-19 restrictions. 216 FTEs have been created and 2935.5 FTEs have been safeguarded.
£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
R&RAllocation
AxisTitle
BusinessResilienceandRecoveryProgramme
Qtrlyawarded QtrlyClaims R&RBudgetAllocated
Thisfigurecombinesthebalanceofthe
LGF(£520,505)andtheadditional
£2,623,680fromtheGetBuildingFund