Business, Latest News | Posted: Monday, June 1st, 2020 at 3:02 pm | return to news

More funding now available for businesses through the discretionary grant fund

Businesses that were not eligible for Government funding through previous COVID related financial support schemes can now apply for funding through the discretionary grant fund - but they need to hurry as the closing date is midnight on 14 June.

Business-coronavirus-grants

It is designed to help small businesses which did not meet the criteria for the first round of funding which targeted Small Businesses in the Retail, Hospitality and Leisure sector.

The grants do not need to be paid back and businesses that have already applied for the Coronavirus Job Retention Scheme are eligible to apply as well as people who are eligible for the Self Employed Income Support Scheme (SEISS).

The discretionary business grant scheme was announced by the Chancellor, Rishi Sunak in early May and is designed to support small businesses that were trading on 11 March 2020. Applicants will be asked to demonstrate the adverse financial impact of Coronavirus on their business. Grant amounts will range between £1,000 and £25,000.

The broad categories of businesses which are eligible are:

1. Small businesses in shared offices or other flexible workspaces. Examples could include units in industrial parks, science parks and incubators which do not have their own business rates assessment

2. Regular market traders with fixed building costs, such as rent, who do not have their own business rates assessment

3. Bed & Breakfasts which pay council tax instead of business rates

4. Charity properties in receipt of charitable business rates relief which would otherwise have been eligible for Small Business Rates Relief or Rural Rate Relief.

5. Businesses operating in tourism and hospitality and the supply chain of this industry that did not qualify for the previous funding.

Cllr Gary Suttle, Dorset Council Portfolio Holder for Economic Growth and Skills, said, “It is most welcome to see additional Government funding for businesses that have not been eligible for financial support up to now and I am heartened by this move by Government to further help businesses.”

To find out more detail go to www.dorsetcouncil.gov.uk/discretionary-grants

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