7 July 2020

Money

The Discretionary Grants Scheme for businesses affected by the Coronavirus outbreak ends this week.

The Government regulations which specified that Bed and Breakfast properties needed to have fewer than six bed spaces available has been relaxed. If a previous application was rejected on these grounds, or you did not apply because you believed you wouldn't qualify, you can submit another application.

To be eligible for a grant ranging from £1,000 to £25,000, you should not have qualified for any other grant, other than the furloughed Job Retention Scheme or the Self‐Employed Income Support Scheme. 

In line with government requirements, the following business types will be prioritised for funding support: 

  • Tourism based businesses who fit the criteria above;
  • Food, drink and hospitality supply chain;
  • Marine sector - such as ferry companies, sailing schools, power boat schools and marine services such as boat servicing. Small businesses in shared offices or other flexible workspaces.
  • Regular market traders with fixed building costs, such as rent, who do not have their own business rates assessment;
  • Bed and Breakfasts which pay Council Tax instead of business rates; and
  • Charity properties in receipt of Charitable Business Rates Relief which would otherwise have been eligible for Small Business Rates Relief or Rural Rate Relief.

So far, South Hams District Council has paid out more than £875,000 in grants to 185 business across the District who otherwise would not have had access to funding.

Cllr Judy Pearce, Leader of South Hams District Council, said: "I'm pleased that we've been able to help so many of our small businesses to weather this storm, but I'm equally sure that there will be some businesses out there who didn't apply, and there may still be funding available for them.

"If you weren't sure whether to apply in the first two rounds of funding, or if you are a B&B that didn't qualify previously, I urge you to apply as soon as possible. We want to help as many businesses as possible."

Unfortunately, those not eligible for funding under this scheme include:

  • Small businesses with a turnover of more than £10.2 million, balance sheet of more than £5.1 million and more than 50 staff
  • Micro businesses with a turnover of more than £632,000, balance sheet of more than £316,000 with more than 10 staff
  • Businesses who were not trading on 11 March 2020
  • Businesses currently in administration or insolvent
  • Businesses whose property rent, mortgage payments and rateable value is above the threshold of £51,000.