Who is this for?
It is our intention to support a total of 300 businesses and safeguard around 300 jobs while aiming to create up to 50 new ones by providing grants and support to SMEs that fall into the following two categories:
- Circular & Cleantech SMEs in need of support to survive
- Any SME planning a circular economy pilot project or pivot
The funded opportunities will be made available to London-based, Small and Medium Enterprises (SMEs). Those consist of enterprises that:
- employ fewer than 250 persons; and
- have either an annual turnover not exceeding EUR 50 million or an annual balance sheet total not exceeding EUR 43 million.
- are not a subsidiary and/or under the control of one or several other enterprises (25% threshold)
What to expect
In these difficult times for many businesses, the Mayor of London has demonstrated his commitment to a green recovery by allocating a proportion of the Green New Deal funds to London’s circular business ecosystem. Eligible businesses will benefit in a number of ways:
We will award a total of £590,000 of grant funding against a wide range of criteria to support the efforts of circular SMEs to deliver a green recovery. Grants will be available for both small businesses with growth potential already operating a circular business model and to those wishing to pivot to new circular economy business operations.
2. Bespoke Pivot Advice
LWARB’s team of experts will provide free help and advice to help SMEs businesses pivot and innovate in order to recover from the impacts of the pandemic by tapping to the circular economy. We aim to provide expert support to 50 London based SMEs who want to champion their circular economy pivot.
3. Matchmaking platform
So much of business success comes from connections. We want to support circular SMEs by removing the barriers to making those connections by developing a virtual match-making platform that will provide SMEs with direct access to buyers, partners and investors who share the same ethos and circular vision as them.
If you're an SME interested in accessing these services, click the button below:
“This is exciting news as the funding will help London’s thriving low carbon circular sector to keep innovating. Here at LWARB we have an expert business support team, perfectly placed to deliver tailored support to accelerate the circular economy in the capital, and we’re delighted that the Mayor has recognised this. It’s more proof if it was needed that London is one of the best places in the world to be a ‘green’ business.”
-Wayne Hubbard, CEO of LWARB