Attention UK training providers! The Coronavirus pandemic and the effect it had on businesses has led to the UK government attempting to remedy this by making funding available to small and medium-sized businesses in hopes of their survival. A grant of up to £5,000 has been made available for training businesses to aid them in implementing eLearning technology and course management software, which will increase the number of learners able to register and enrol on courses.
This blog will tell you everything you need to know about this government funding and how exactly to go about applying.
Available in England and Wales, the European Regional Development Fund brings an additional £20 million of funding to SMEs (small and medium enterprises) in England and a whopping £300 million in Wales. Once granted, new technological equipment can be adopted to ensure that the business can continue functioning following the pandemic.
Grants can range from £1,000 up to £5,000, with £3,000 being the most commonly allocated amount per business.
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A recent survey of global companies by eConsultancy showed that 96% of enterprise leaders are prioritising digital transformation within their business, illustrating just how important digitalisation is within the training provider industry. But how do you know if your business qualifies for funding or not?
If you are a small to medium-sized training provider (less than 250 employees) in England or Wales and you’ve observed a nosedive in business following the pandemic, you’re more than likely to qualify for funding. Below, we’ve provided a checklist of scenarios which, if they apply to your organisation, mean you will qualify for funding from the government:
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