Huntingdonshire District Council is set to launch its Discretionary Grant funding scheme on Monday 8 June, allowing small businesses to access government funding in response to the COVID-19 pandemic.
The Local Authority Discretionary Grant Funding scheme is designed for businesses that have not yet been able to access government funding and is predominantly aimed at supporting small businesses and micro-businesses with fixed costs or businesses that are crucial to the local economy.
There is over £1.6 million worth of funding available for one-off payments, ranging from £3,000 to £10,000, available to businesses that are eligible and apply. The government has set out four categories of businesses to be prioritised for the Discretionary Grant funding scheme:
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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).
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regular market traders with fixed building costs, such as rent, who do not have their own business rates assessment
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bed and breakfasts which pay Council Tax instead of business rates and
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charity properties in receipt of charitable business rates relief which would otherwise have been eligible for Small Business Rates Relief or Rural Rate Relief.
Executive Leader of the council, Councillor Ryan Fuller, said: "We have been strong in our support for local businesses and in support of our local economy. There is a great number of small businesses and organisations within our district that play a vital role in the very make up of the local economy that, up until this point, have yet to be able to access government funding. We want to ensure that they are given the opportunity to access funds that other businesses have had the chance to take up.
"The Discretionary Grants scheme can offer an essential helping hand for small businesses and we are aware of how speed of delivery is required for this scheme. We will be working to ensure that the funds are distributed to eligible businesses as quickly as possible, through a carefully designed applications system.
"We have already paid out over £27 million to more than 2,150 local businesses and we will continue to support our business sector throughout the COVID-19 pandemic response."
The scheme will open to applications at 9am on Monday 8 June, and due to the limited funds available and the speed at which support is required to be shared locally, the scheme will be run on a first-come, first-served basis until the funding pot is exhausted. Therefore, it is recommended that businesses assess their eligibility first and proceed to submit their application, along with the required supporting documents as soon as they are able once applications open.
Businesses who are eligible for the Self-Employed Income Support Scheme (SEISS) and the Coronavirus Job Retention Scheme (Furloughing) are also eligible to apply for Discretionary Grant Funding.