Support scheme confirmed to help Somerset 'bounce back'
A £6-million boost to Somerset's economy has been agreed to help kick start growth and create new jobs.
Firms - which includes individuals - will be able to apply for a share of the money to help them recover from the pandemic, although exact details are still to be agreed.
Somerset County Council say 'the cash boost will include financial support for businesses, financial support for individuals and a range of other measures to stimulate the economy and boost the county as it recovers from coronavirus'.
Councillor David Hall, Cabinet Member for Economic Development, Planning and Community Infrastructure at Somerset County Council added: ”We’re investing in public health, adults and children’s services, but we also have to recognise the enormous importance of our economy which has taken a huge hit over the past 18 months.
“That’s why we’re promising £6m to help Somerset prosper. We’ll be providing funds for tourism, hospitality and high streets, we’ll be helping new businesses grow and we’ll be creating much-needed jobs for our residents.”
A report found: "Certain sectors of the economy have been especially hard hit by the pandemic, including the visitor economy, the leisure and hospitality sectors and the high street. In addition manufacturing and construction have been significantly disrupted. Again this pattern of impact is reflected in the Somerset economy."
The funding will include:
Financial support for businesses – assistance for the recovery and growth of businesses in Somerset, focussing on those which have not been eligible for assistance from Government’s schemes.
Financial support for individuals – assistance for self-employed people who have not been eligible for assistance from Government’s schemes and for less advantaged individuals with costs associated job search and returning to work.
Business start, restart and recovery – providing business start-ups with support, offering targeted support to hard hit sectors and support for local buying.
Stimulating the economy – investment in strategic actions to drive longer term recovery, clean and inclusive growth and levelling up in Somerset.
For more about the funding click here to read the full report
More detail of the funding and how businesses and individuals can apply will be released in the next few weeks.