Decision details

Due to high levels of demand the ARG funded Business Growth Grants were oversubscribed. The council have received applications of approximately £1.5 million from a remaining unallocated ARG budget of approximately £834,000 (made up of the £242k remaining ARG budget to be spent by June 2021 and £762 of the ARG award to be received from BEIS in July 2021).
Through the Economic Recovery Cell officer recommended an approach to assess all eligible applications and to reduce the final grant offer equally across each successful grant application. In this scenario all successful grant applications would receive approximately 60% of their original grant request.
This decision will ensure that the council meet the imminent BEIS spend deadline of 30 June 2021 and make immediate allocations of up to %565,000 from the additional BEIS funding to be unlocked in July 2021

To allow the ARG funding to be spent by 30 June 2021 deadline which will unlock a further £762k of funding.
To ensure that the ARG Growth Grants are able to support as many eligible NWL businesses as possible/

None - This was a revision of a prior agreed scheme in order to meet the revised spend profiles and to ensure a consistent approach to making grant awards through the Growth Grant scheme.