Up to £617M in grants for small businesses with property-related costs in England.

In an announcement posted to the gov.uk website on May 2nd, it was shared that on the previous day they’d informed local authorities in England about a new discretionary fund of up to £617M.

This fund aims to accommodate small businesses (>50 employees) who had fallen outside of the scope of previous business grant funds schemes. It goes on to mention:

"This additional fund is aimed at small businesses with ongoing fixed property-related costs. We are asking local authorities to prioritise businesses in shared spaces, regular market traders, small charity properties that would meet the criteria for Small Business Rates Relief, and bed and breakfasts that pay council tax rather than business rates. [emphasis added]"

Also mentioned in the announcement:

  • Businesses must be small (under 50 employees) & be able to demonstrate significant drop of income due to COVID-19 restrictions.
  • 3 level of grant payments, with a max of £25,000
  • Local authorities will have discretion to make payment of any amount under £10,000.
  • Councils will be responsible for adapting their approach for local circumstances.

You can check out the official announcement on gov.uk here and discuss this support package on crisis.directory here.

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