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Half-million-pound boost for business as new grant schemes launched

Business Event - audience

Business owners were keen to find out about the grants on offer

Hundreds of small businesses in Tower Hamlets are set to benefit from grants of up to £1,250, after three new schemes to support them out of the pandemic were launched last week.

Nearly half-a-million pounds has been set aside for the grants, which will be allocated to businesses through the Business Adaptation Grant, the Creative and Cultural Futures Project and the Pivot Project 2 scheme. 

A pot totalling £478,500 is available for the grants, part funded by the Mayor’s Covid Recovery Fund.  

Speaking after the launch of the new grant schemes at Tobacco Dock on 24 November, Mayor Biggs said: 

“The Mayor’s Covid Recovery Fund was established to support the economic, health and social recovery here in Tower Hamlets. 

“Covid-19 has had a huge impact on us all, including businesses, and these three grant schemes provide a welcome boost for them and a boost for the local economy.” 

Cllr Motin Uz-Zaman, Deputy Mayor and Cabinet Member for Work, Economic Growth and Faith said:  

“The pandemic has caused many businesses to close, while others that stayed open are struggling, but in taking action and creating grant schemes like these we are helping to support our local businesses and help stimulate the local economy.” 

Fashion designer Dragana Perisic was one of 50 people to successfully apply for a £1,000 grant through the first Pivot Project last year – a scheme to help helped businesses adapt to new ways of working created by the pandemic. 

“It was really difficult for me during the lockdown as my primary source of income was through shop sales,” Dragana said. “With the shop closed I had to think about how to diversify my business.”  

Dragana invested the grant in the digital side of her business, upgrading her website and social media accounts to reach new customers with her fashion accessories and handbags. 

She said: “I am very grateful for the help I have received from the council, and I am exploring new marketing routes and keeping my website up to date with beautiful images and products.”  

Applications are now open for the Pivot project and Business Adaptation Grants. The Creative Freelance Futures project will be accepting applications soon, but you can complete an expression of interest form. 

Posted on Thursday 2nd December 2021