View our other COVID-19 guidance pages:
- COVID-19 – Resources, Guidance and Help
- Coronavirus Business Interruption Loan Scheme (CBILS)
- Coronavirus Job Retention Scheme (CRJS)
- Small Limited Companies and Covid-19
- Owner/Manager Directors can Furlough – New Guidance
- Bounce Back Loans
There are two existing Coronavirus business grant schemes both of which are only applicable to businesses that receive non-domestic rates bills from their local authority.
In total, the Small Business Grants Fund (SBGF) and the Retail, Hospitality and Leisure Grants Fund (RHLGF) have received £12 billion in funding, more than half of which has already been released to UK businesses.
However, thousands of businesses that trade from premises are not eligible, usually because they operate within a business centre or some other form of shared property where the landlord pays the rates and the cost is included as part of the rent.
On May 2, the Business Secretary Alok Sharma and Minister for Regional Growth and Local Government, Simon Clarke announced a new £617 million fund for local authorities to provide grants to “business in shared spaces, regular market traders, small charities that meet the criteria for Small Business Rates Relief and Bed and Breakfasts that pay Council Tax rather than non domestic rates”.
This is not a hard and fast rule but it is these types of businesses that the Government has asked local authorities to ‘prioritise’.
To qualify businesses must:
- Have fewer than 50 employees
- Be able to demonstrate that they have seen a significant drop in income due to Coronavirus
Three grants will be available:
- £25,000 (the maximum available)
- Any amount up to £10,000 as the local authority sees fit.
As you will appreciate the situation is constantly evolving but to speak to our specialist team please contact ATN on 01474 326224. Alternatively, visit the website; tweet @atnpartnership or email email@example.com