Small Business Grant Fund and Retail, Hospitality & Leisure Grants might not cover every business on the high street. A third small business grant, the Discretionary Grant Fund (DGF) supports small and micro businesses that are not eligible for these schemes. We know that it has been difficult for many businesses. Having a clear view and being in control of your cashflow is vital for small and micro sized businesses right now. Access to sources like these, will offer more attractive terms for both businesses and lenders, with the aim of supporting the continued provision of finance to UK businesses during the Covid-19 outbreak. The Discretionary Grant Fund provides access to a grant of £25,000, £10,000 or any amount under £10,000.
Getting you back on track is our highest priority. As well as grants, there are many other types of finance supported by the government that you can view here. If you are looking to raise finances for your business, fit the eligibility criteria and want to ensure you get the best rates, contact our strategic team as soon as possible.
For the purpose of this grant, the local councils have been asked to prioritise businesses such as:
- Small businesses in shared offices or other flexible workspaces, such as units in industrial parks or incubators
- Regular market traders
- Bed and breakfasts paying council tax instead of business rates
- Charity properties getting charitable business rates relief, which are not eligible for small business rates relief or rural rate relief
To be eligible for the grant a business must be:
- Based in England
- It has relatively high ongoing fixed property-related costs
- It occupies property (or part of a property) with a rateable value or annual mortgage/rent payments below £51,000
- It was trading on 11 March 2020
- The business has suffered a significant fall in income due to Coronavirus
You can visit you local councils website here. Your local council will then run an application process and decide whether to offer you a grant.
If you have any queries regarding this grant, contact us on 02085300720 or email enquiries@nordens.co.uk
