Small firms in Altrincham are urged to ‘look again’ at grant support after the Government announced a new £617m discretionary fund.
The new grants will be distributed by the local authorities and are designed to help those firms which fell outside the first wave of grant funding.
Announced 1 May 2020: If you were outside of the scope of the Covid19 Business Grant funds scheme (see below) then extra Local Authority funding announced recently could be good news for you and your business. A discretionary fund has been set up to accommodate certain small businesses previously outside the scope of the business grant funds scheme.
Up to £617 million is being made available to local authorities in England. This is on top of the £12.33 billion funding previously announced for the Small Business Grants Fund (SBGF) and the Retail, Hospitality and Leisure Grants Fund (RHLGF) – an additional 5% uplift), totalling up to £617 million in funding. Exact amounts for each local authority will be announced shortly.
Government guidance issued on 13 May 2020 states that the grants can only go primarily to small businesses that:
Were trading on 11th March 2020
Are not eligible for existing grant schemes or the Self-employed Income Support Scheme
Employ less than 50
Businesses with relatively high ongoing fixed property-related costs
Business which can demonstrate that they have suffered a significant fall in income due to the Covid-19 crisis
Business which occupy a property, or part of a property, with a rateable value or annual rent or annual mortgage payments below £51,000
To apply for the Discretionary Business Grant Scheme please complete the online form below as soon as possible. Please note that we cannot process incomplete grant applications.
Complete the Discretionary Business Grant Scheme online form