BID launches new Redditch Town Centre Business Grants

Redditch Town Centre businesses will soon be able to apply for funding to invest in improving their customer experience and commercial performance thanks to a new grants scheme.

The Redditch Town Centre Business Grants of between £1,000 and £5,000 will be available to retail, hospitality, and service sector businesses located in the Town Centre. These match-funded grants and can be used to improve ground-floor frontages, fixtures, and fittings, increased and improved marketing, and investments in equipment.

The Redditch Town Centre Grant has received £30,000 from the UK Government through the UK Shared Prosperity Fund.

Leader of the Council and Portfolio Holder Economic Development, Commercialism and Partnerships, Cllr. Matt Dormer, said: “The Town Centre is the hub of our town, and with help from UKSPF funding, we are constantly working to regenerate, invest and make it an inviting place to visit. We are proud to be working with the Redditch BID to unlock more opportunities for local businesses and build a thriving town centre offering we can all be proud of.”

Redditch BID Manager, Muj Rahman, said: “We are very excited about our partnership with Redditch Borough Council to launch the Redditch Grant Scheme, matching the funding available for Redditch businesses. Many businesses are feeling the impact of the current economic situation, and this is a great opportunity to support our BID businesses and encourage investment.

“We will continue seeking opportunities to support businesses and this is a great example of working with other stakeholders to maximise the support we can bring to our members.”

The scheme will be officially launched on the 31st of January with a networking event held by the BID at 6pm at Holiday Inn, Hewell Road, Redditch, B97 6AE.

Please note, successful applicants will be offered 50% of the costs of an eligible project at a minimum of £1k and up to a maximum of £5k. At least 50% of costs must be funded from the business’ own resources. The grant may not be used for recurring costs or for the repayment of existing loans or debts, or for reimbursement of goods or services bought prior to grant approval. Terms and conditions and detailed information can be found on the council’s website.

The UK Shared Prosperity Fund is a central pillar of the UK government’s Levelling Up agenda and provides £2.6 billion of funding for local investment by March 2025. The Fund aims to improve pride in place and increase life chances across the UK investing in communities and place, supporting local business, and people and skills.

For more information visit: https://www.gov.uk/government/publications/uk-shared-prosperity-fund-prospectus
If you would like to find out more, apply for a grant or attend the launch event, please email ukspf@bromsgroveandredditch.gov.uk for more information.