For those of businesses who “missed out” on the grants linked to business rates and those businesses who have continuing overhead costs to meet and have experienced financial difficulty because of Covid19. This additional fund is aimed at small and micro businesses who were not eligible for the Small Business Grant Fund or the Retail, Leisure and Hospitality Fund.
Our advice to you is that the fund is limited - and therefore maybe be treated as “first come, first served” in some respects.
These grants are primarily and predominantly aimed at:
To be a small business, under the Companies Act 2006, a business must satisfy two or more of the following requirements in a year -
To be a micro business, under the Companies Act 2006, a business must satisfy two or more of the following requirements -
Central Government are asking local authorities to prioritise the following types of businesses for grants from within this funding pot:
Local authorities may disburse grants to the value of £25,000, £10,000 or any amount under £10,000. The value of the payment to be made to a business is at the discretion of the local authority.
Grants under the Local Authority Discretionary Grants Fund are capped at £25,000.
The next level payment under the Local Authority Discretionary Grants Fund is £10,000.
This grant funding is for businesses that are not eligible for other support schemes.
Businesses which are eligible for cash grants from any central government COVID related scheme (apart from SEISS) are ineligible for funding from the Discretionary Grants Fund.
Such grant schemes include but are not limited to:
Businesses who have applied for the Coronavirus Job Retention Scheme are eligible to apply for this scheme.
Businesses who are eligible for the Self-Employed Income support scheme (SEISS) are eligible to apply for this scheme as well.
Only businesses which were trading on 11 March 2020 are eligible for this scheme.
Companies that are in administration, are insolvent or where a striking-off notice has been made are not eligible for funding under this scheme.
Here are a few links to local authority pages where you may find relevant information from your local authority.
Please note the application opening dates will vary from local authority to local authority so you may need to monitor when the application process goes live.