The Government have announced a new scheme where councils can allocate funds to small or micro businesses who have been affected by the COVID-19 outbreak.
This fund is available to businesses who have not been eligible for any other grant, with the exception of the furlough scheme, and who were trading on 11 March 2020.
It is not available to people who are classed as self-employed, and who would therefore be eligible for the Self Employed Income Support scheme.
Applications to the Discretionary Fund will open on June 1, and we anticipate that the first set of grants will be paid by 12 June.
The second and third payment runs will follow every two weeks, as follows:
|Applications open||Payments made by:|
|15 June||29 June|
|26 June||10 July|
Please visit this page on 1 June in order to apply.
The funding is only available to small and micro businesses, as defined in the Companies Act 2006. Your business must have been trading on 11 March 2020 and not insolvent or dissolved.
You can use the table below to find out if you are a small or micro business. You need to satisfy two out of the three conditions in order to qualify as a small or micro business.
In addition, the grants are aimed at:
|Small Business||Micro Business|
|Turnover||Not more than £10.2 million per year||Not more than £632,00 per year|
|Balance Sheet Total||Not more than £5.1 million||Not more than £316,000|
|Number of Employees||A headcount of staff less than 50||A headcount of staff of not more than 10|
Grants will range from £1,000 to £25,000. You do not need to repay the grant.
Yes. The Government has asked councils to prioritise the following businesses:
In addition, because the amount of funding provided to councils is finite, the following Local Priority Sector Businesses will be prioritised for grant assistance:
To submit your application, you will need:
You may also need to supply the following:
Please take care when entering details and especially numbers; incorrect information provided could significantly delay your grant.
Please check your bank details carefully. We will not be able to pay a grant twice, so if you provide incorrect account details and we are unable to reclaim the original payment, you may not receive your grant.
Applications will be checked against previously approved grants, data held on file and against HM Revenue and Customs records. Any business caught falsifying their record to obtain grant money will face prosecution and any funding issued will be reclaimed.