business funding Archives - Destination Chesterfield

Chesterfield firms encouraged to apply for AI skills grants

9th May 2024

The government has launched a scheme enabling businesses across the UK to futureproof their teams, by accessing funding for AI skills.

The Department for Science, Innovation and Technology (DSIT) recently announced a £7.4 million pilot scheme to subsidise the cost of AI skills training for small and medium-sized enterprises (SMEs) in the Professional Business Services sector. £6.4 million of grant funding is available.

Through this pilot programme, eligible business can apply for funding for up to 50% of the cost of AI skills training. This is training which supports employees to develop their technical skills and/or understanding of AI to be able to develop, deploy, or use AI in their role. The application window is open until 31 May.

Artificial Intelligence holds huge opportunities to drive productivity and prosperity across the UK economy. It has the potential to increase UK GDP by up to 10.3% by 2030 – the equivalent of an additional £232 billion – and businesses who adopt AI are more likely to be successful than those that do not.

But evidence shows that a lack of AI skills in businesses is hindering AI adoption, in part due to low investment in AI upskilling in UK businesses, particularly in smaller companies.

The new pilot programme will test whether training SMEs in AI maximises the value of adoption AI. Specifically, whether government support in the form of match-funding is an effective way of increasing employer-led upskilling in AI, and whether increased skills translate into AI adoption and firm-level productivity benefits.

Specifically, the pilot has the following objectives:

1. To stimulate employer investment in AI training
2. To address AI skills gaps in the UK workforce limiting AI adoption
3. To measure the impact of AI upskilling on business productivity and outcomes

The funding competition is open to applicants who:

Are registered and operate in the UK
Employ between 1-249 employees in the UK
Are defined as an SME per the BEIS SME Action Plan
Have been operating for at least 1 year
Are able to match-fund 50% of the cost of the training, and
Operate in the Professional and Business Services (PBS) sector

To find out more and apply for the support, go to: https://www.gov.uk/government/publications/flexible-ai-upskilling-fund

For more information on business support, funding and training available to Chesterfield businesses, go to: https://www.chesterfield.co.uk/business/business-support/

Grants available for Chesterfield businesses affected by Covid-19 Omicron variant

18th January 2022

Businesses trading in Chesterfield’s hospitality, leisure and accommodation sectors which have been affected by the Omicron variant of Covid-19 are being encouraged to apply for a support grant.

The Omicron Hospitality and Leisure Grant provides grants from £2,667 up to £6,000 to support local businesses impacted by the pandemic.

Applications for funding are now open, and will close on 11 February 2022. A business will be eligible for the grant if:

it was registered for Business Rates on 30 December 2021
it was trading on 30 December 2021
it is one of the hospitality, leisure or accommodation business types that are eligible for this payment (some exclusions do apply as per the BEIS guidance)

Businesses that may qualify for this grant are being contacted by Chesterfield Borough Council’s business grants team directly. However, if you think you are eligible and have not been in touch with anyone from the council about this yet, you can complete the application form here.

A business will not be entitled to a payment if it has entered into administration or insolvency or has exceeded the permitted Business Grant Subsidy Allowance.

Only the Business Rates payer at 30 December 2021 is entitled to claim this payment.

If you are eligible to receive a grant payment, you will receive this within seven days of your application being assessed and no later than 28 February 2022.

Meanwhile, the Government has also recently announced a new Covid-19 Additional Relief Fund (CARF) and published guidance on the operation of the fund and details of the funding allocation for each local authority.

Chesterfield Borough Council is in the process of drafting the scheme ready to publish on its website during January 2022. Businesses are encouraged to keep checking Chesterfield Borough Council’s website and social media for further updates.

Find out more about the COVID-19 Additional Relief Fund.

To find out more about some of the other business support available for companies in Chesterfield, go to: https://www.chesterfield.co.uk/business/business-support/