£5m fund to help County Durham businesses recover from effects of Covid approved by councillors

A £5 million fund to help businesses in County Durham overcome the effects of the coronavirus pandemic has been approved by councillors.

The scheme will offer grants of between £1,000 and £40,000 to smaller companies in the county to help them adapt and survive beyond COVID-19.

It will be overseen by Business Durham, which is part of Durham County Council, and is open to all businesses with a credible recovery plan which began trading before March 11, 2020.

The Durham Business Recovery Grant Scheme will support more than 880 firms with fewer than 250 employees, and have the potential to safeguard over 1,760 jobs, across the county.