Tailored support and £400,000 for businesses to boost coronavirus pandemic recovery

Hackney - High Street Photos - STOKE NEWINGTON - 240dpi - 116

Tailored business support for 100 Hackney businesses as well as £400,000 in grant funding to help aid recovery from the coronavirus pandemic is on offer as part of a new scheme launching on Friday, 21 January. 

The Adapt Your Business programme - delivered by the Council in partnership with experienced small business advice provider and investment network Newable - will see micro and small businesses in Hackney applying for grants of up to £25,000 to help them adapt to an ever-changing business environment. 

Successful applicants can use the funding to either make an adaptation needed as a result of the pandemic, and/or make improvements to become a greener and more sustainable business. 

Also up for grabs is at least seven hours of business advice with an expert, including 1-2-1 support and advice provided by experienced business advisers to discuss individual business needs, and a number of masterclasses and networking events.

A Council spokesperson said: “Hackney’s businesses have shown incredible resilience over the last two years in the face of great adversity as a result of the coronavirus pandemic. As a Council we are committed to ensuring a fair recovery for our small and micro businesses across the borough. 

“The Adapt Your Business programme provides both vital funding for businesses, as well as the opportunity for them to receive specialist and tailored business support from experts in their field, who can drill down into what an individual business needs to thrive in 2022 and beyond.  

“While encouraging businesses to make sustainable changes which can help reduce carbon emissions is a key part of our Rebuilding a Greener Hackney pledge, and we look forward to seeing some greener initiatives come to fruition as part of this programme.” 

The service has two key elements:

1. Seven hours of bespoke 1-2-1 business support and advice provided by experienced business advisers, and access to free masterclasses and networking events. 

2. Grants between £5,000 and £25,000 for eligible businesses to:

    a. make adaptations to their business as a result of the Covid-19 pandemic, and/or:

    b. improve the business's environmental performance or credentials, resulting in 

        a greener business. 

Adaptations could include moving their business online, improving its online profile, changing the business model, updating the premises or purchasing new equipment.

Applications open at 1pm on 21 January 2022 and close at 4pm on 4 February 2022. Projects have to be delivered by the end of the year. 

The full details and application criteria for the fund can be found on our website. 

If you have any questions about the Adapt Your Business application, or need support with completing or submitting your application, you can contact hackney.adaptyourbusiness@newable.co.uk 

Further information:

  • Using the Additional Restrictions Grant (ARG) funding that the Council received from the Government, £405,000 has been made available for the Adapt your Business programme. Further information on Newable can be found on its website. 
  • On 21 December 2021, the Government announced new business grant funding available in the coming weeks to support businesses in the hospitality, leisure and accommodation sectors as the UK tackles rising cases of the Omicron variant. In addition the Government announced a funding boost to the Additional Restrictions Grant (ARG) fund to support other businesses impacted by Omicron, such as businesses who supply the hospitality, leisure or accommodation sectors. Local Authorities will have discretion to allocate the ARG funding to businesses most in need in their local areas. More information is available here and the Council will be opening these grant funds as soon as possible. 
  • The Hackney Central Impact and Ideas Fund opened on 18 January, with businesses in Hackney Central encouraged to apply for innovative small or large-scale projects which will enable them to build their economic and environmental resilience, as well as making a positive contribution to the town centre. You can read more about this fund here
  • In December 2021 Hackney Council launched the High Streets and Town Centres fund. This £500,000 fund, which has now closed, was for eligible businesses to deliver projects that increase engagement, encourage spending and bolster recovery in our high streets and town centres. This grant closed earlier this month, but more information is available here
  • In 2021 the Council launched Hello again, Hackney - a £400,000 fund to help the borough’s cultural institutions welcome back customers safely with special offers, discounted tickets and pop-up events. This fund is now closed. 
  • Further information on grants issued by Hackney Council during the coronavirus pandemic can be found on our website.