To recommend to Cabinet the approval in principle of the establishment of a Covid 19 Recovery and Investment Fund to support Herefordshire businesses.

This is recommended to investigate providing additional targeted funding opportunities for local business growth in support of delivering the County Plan. Any funding provided will be in addition to the support that is already established and available.

That:

a)    Cabinet approve further investigation into the establishment of a recovery and investment fund to support Herefordshire businesses post Covid 19.

b)    Cabinet approve the principles and objectives of investment for a Herefordshire Recovery and Investment fund as detailed in paragraph 13.

c)    Cabinet authorises the Acting Deputy Chief Executive, Chief Finance Officer, to develop the scheme details based on the principles set out within this report and report back with the final proposals.

1.     To not approve the establishment of a recovery and investment fund. This could be seen as a missed opportunity to support local businesses to recover and grow following the economic impact of the international pandemic Covid 19.