Today the Mayor of London launches the £1m London Resilience Fund for businesses (including small firms), social enterprises and community groups who are based in the capital.
Funding of up to £30,000 from the £1m pot will be given to projects that develop innovative solutions to environmental and economic solutions facing London’s economy.
This could be an initiative to:
- Boost supply chain resilience
- Build businesses operational resilience
- Tackle inequality
- Address food insecurity
- Improve health and wellbeing
- Improve air quality and tackle climate change
The London Business Hub also provides a range of free support and funding opportunities to SMEs from all sectors. It includes an online portal where they can get advice on business rates, landlord negotiations, navigate government support schemes and recover reduced revenue streams.
Through a partnership with the Business School (formerly Cass Business School), firms will receive extra support and access one-on-one tailored advice with the Hub’s team of business advisers. A peer-to-peer network has been set up where business owners can discuss the difficulties they’re having.
The hub aims to help with the double blow of COVID-19, a potential no-deal Brexit and other future emergencies.
Sadiq Khan said: “The coronavirus pandemic has hit London’s business community hard, with social distancing requirements and a reduction in footfall leaving many small and medium-sized companies struggling to survive.
“As many continue to worry about their cash flow and how they’re going to pay the bills, I want to do all I can from City Hall to provide the practical help and support London’s SMEs need to get through these difficult times.”
The Mayor also has written to the Prime Minister urging that if the latest round of Brexit talks ends in no significant progress being made, the government must seek an immediate extension to the trade negotiations of at least 12 months, which will allow businesses to focus on the priorities of dealing with the virus and protecting jobs.