IT Support Blog
due to On Friday 16th October, funding will be made available for London businesses that have been impacted by COVID.
Grants of between £1000 to £5000 are available for businesses in receipt of a quotation for products and services that assist SMEs to adapt and diversify.
This is a great opportunity to secure funds for technology-based services that can help drive your business forward.
How Can SysFix Help?
SysFix IT Support has assisted many London based businesses throughout the continuing pandemic. We can help you too!
All you need to do is speak to us about a potential project, request a quotation, and then apply for funding.
Who is Eligible?
All applicants will need to confirm the following to be able to access the online application form:
Their business is based and operational in Greater London (the business must at least have a London trading address).
Their business is a Small or Medium Enterprise (SME).
Less than 250 employees.
Less than €50m turnover or balance sheet of €43m.
Does NOT hold 25% or more capital or voting rights in another business.
Does NOT have another company hold 25% or more capital or voting rights in the business.
Their business started trading on or before 1st March 2019 and is still trading.
Their business has been adversely impacted by COVID-19
Their business has not received a total of €200,000 State Aid in the past 3 years (What is State Aid?)
The activity the business is applying for is to assist with COVID-19 recovery plans, and is not "business as usual" or related to personal protective equipment (PPE), social distancing, or other regulatory activity.
The grant support is vital to progressing the activity the business is applying for (i.e. the activity wouldn't be possible without the grant support).
The applicant's project has not already started the activity to be claimed under the grant (and cannot have started before the grant offer letter has been issued).
Confirm they understand that ONLY those applicants who complete a full application and supply ALL supplementary evidence will be considered for a grant.
Confirm they understand that the grant will be paid in arrears. Businesses can apply for 100% of the costs, but please note that funding will be paid in arrears. Therefore, grant payment will be made after you have accepted the grant offer and have purchased and received the support or items that the grant has been approved for.
Confirm they understand that they have one calendar month from the date of the grant offer letter to accept the offer and purchase and receive the support or items that the grant has been approved for.
Confirm that there is a dedicated bank account for the business.
What will I need for an application?
You will need to ensure that you have the following information available:
Company registered address, trading address (if different from registered address), website, date your business started trading, number of employees.
Company registration number OR Unique Tax Reference OR Other evidence for business registration.
Relevant SIC Code for your business, if your business is part of the Visitor Economy. What is a SIC Code?
A dedicated bank account for your business and accompanying bank statement (March 2019).
Business forecast/ Sales forecast OR Copy of Covid Response Business Plan.
State aid information relating to your business in the last three years.
Business turnover and profit for the last financial year and current financial year, including a Profit and Loss summary from April 2019 to March 2020 (or most recent data) and a Balance Sheet from April 2019 to March 2020 (or most recent data).
1 quotation for all work/purchases to be funded via the grant, if successful.
You'll also need to answers to the following questions (it is important that you give enough detail to demonstrate the need for this grant):
A brief overview of your business activity, products, and services.
Details of how your business has been affected by COVID-19, including details of the issues/challenges your business faces.
How will the grant-funded activity help your business recover from the impact of COVID-19?
Details of the selected support provider, the rationale for choosing this. supplier, and details of when you anticipate making your first purchase.
What is the process for applying to the grant?
Applications open at 10.30 am on Friday 16th October 2020. A link to the full application will be made available on the London Business Hub website.
Applications will be reviewed and assessed on a first-come, first-served basis. Bids will then be assessed and prioritised based on need and impact. We will also work to ensure that grant recipients supported by this funding reflect London's diverse business community.
We will endeavor to communicate a decision within 10 working days of application submission.
A grant offer letter will be sent to eligible applicants.
Eligible applicants will have one calendar month, from the date of the grant offer letter, to accept the offer and purchase and receive the support/items that the grant has been approved for and submit a grant payment claim.
Once a complete claim has been submitted and approved, with all relevant evidence provided, payment will be made to the SME within 5 working days.
Please also be aware that the grant cannot retrospectively fund activity that has already started.
Your application must include a quote for the activity you wish the grant to fund but you cannot commission the work until your application has been confirmed as successful and you have received and grant offer letter.