Yorkshire Forward has been working with companies striving to get their businesses fully operational following the worst floods for decades. The Regional Development Agency has listened to businesses that have been affected by the recent flooding and reacted rapidly to their calls for financial and practical assistance.

A new £3 million flood recovery fund is now available for medium to large flood-hit companies across the region, bringing the total flood recovery funding made available through Yorkshire Forward to £5 million.

Terry Hodgkinson, Chair of Yorkshire Forward commented: “The resilience of the region’s businesses and the effectiveness of the disaster recovery plans have ensured that businesses in the region were back in business just days after June’s torrential downpours. Yorkshire Forward is now working with them to identify their concerns and needs.

“We have responded rapidly and taken decisive action to help businesses to bring their manufacturing capabilities back up to full capacity by getting vital equipment back in working order. The new £3 million fund will be sourced through Objective One and administered by Yorkshire Forward. This £5 million investment is a direct response to calls from business for financial assistance.

“We are working closely with our partners at Business Link and the Chambers of Commerce to ensure that as many companies as possible are made aware of the assistance that is available.”

The new £3 million funding is from the European Union’s European Regional Development Fund through Objective 1.

Within four days of the first downpour, Yorkshire Forward launched the £1 million Business Recovery Scheme, with available funding doubled and the first payment issued just seven working days later.

Now, just 20 working days after the flooding, grants of up to £100,000 will be awarded to companies with more than 50 employees, based on numbers employed, to cover costs that will not be met by business continuity insurance. Companies with fewer employees will be considered on a case by case basis.

Yorkshire Forward, Business Link and the Chambers of Commerce will be pro-actively engaging with companies to assess their needs.

The eligibility criteria for payments from this funding, and from the £2 million previously made available to small businesses, has been extended to include wage payments if the labour has been used for clearing flood damage.

The Yorkshire Forward-funded Manufacturing Advisory Service has also made up to five days of support available free of charge for manufacturers in the region that need to assess the damage to machinery, and the siting and installation of replacement equipment, to ensure that they get their business back up to maximum capacity as soon as possible.

Alison Biddulph, Manager of the Objective 1 programme for the Government Office for Yorkshire and Humber said: “This EU funding will help affected local firms get back on their feet more quickly, safeguard their viability and ensure continuity of employment for many local people.”

SME’s wanting to access the £2,500 recovery funding should call the helpline on 0800 022 6201.

The Manufacturing Advisory Service can be contacted on 08700 111 875

www.yorkshire-forward.com