Apply Now - Additional Grants For Broxtowe Businesses Affected By COVID-19

Apply Now - Additional Grants For Broxtowe Businesses Affected By COVID-19

4/06/20 - Broxtowe based businesses who have been affected by COVID-19 can now apply for additional funding as part of a discretionary grant scheme.

The Government has announced that Councils will be given an additional 5% of their original Business Grants funding to create a discretionary scheme for providing financial assistance to businesses that have not been supported fully through other schemes. 

Councillor Greg Marshall, Chair of the Finance Committee said: “The Council has provided £16.5 million of support to businesses as part of existing schemes, as well as signposting to advice and other support schemes, as well as how to ensure your business is COVID secure ready to re-open. I’m very pleased to be able to open this new discretionary scheme, to help support those who have fallen through the net from other Government schemes.

Eligible businesses will be able to apply from a pot of approximately £880,000. We will take appropriate measures to ensure applicants are assessed fairly and equitably.”

Businesses must meet the following criteria to apply:

  • Be a small or micro business, defined in Section 33 Part 2 of the Small Business, Enterprise and Employment Act 2015 and the Companies Act 2006.
  • Have relatively high ongoing fixed property costs.
  • Be able to demonstrate that they have suffered a significant fall in income for the period 1 April 2020 to 31 May 2020.
  • Have a rateable value or annual rent/mortgage payments below £51,000.
  • Trading on 11 March 2020.
  • Not in administration, insolvent or where a striking-off notice has been made.

The amount of grant allocated will be based on the individual circumstances of the businesses.

You will not be eligible for the discretionary scheme if you have already received assistance through one of the following schemes

  • Small Business Grant Fund
  • Retail, Hospitality and Leisure Grant
  • The Fisheries Response Fund
  • Domestic Seafood Supply Scheme (DSSS).
  • The Zoos Support Fund
  • The Dairy Hardship Fund

To complete the application form you will need:

  • Your bank details
  • Business Rates account number and your rateable value (both of these can be found on the letter which the Council has sent to you about these grants).

Other business support schemes are available for those affected by the pandemic – visit www.businesssupport.gov.uk/coronavirus-business-support/

 

 

 

 


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