Babergh and Mid Suffolk District Councils are urging small business owners to review the expanded Discretionary Grant criteria and apply before the July 24 deadline.
The Discretionary Grant is one of a series of government grants designed to help businesses through the challenges of the coronavirus pandemic, however, the funding is limited, and businesses are recommended to apply before it is fully allocated.
Open to those businesses who have been unable to claim any other financial support, Babergh and Mid Suffolk District Councils Discretionary Grant is aimed at retail, hospitality, and leisure businesses with a rateable value between £51,000 and £71,000, Ofsted registered Early Years providers, B&Bs and other small businesses who employ three or more people
Eligible businesses will be assessed on a range of factors including business costs, impact of Covid-19 on earnings and number of employees. The funding levels available through the Discretionary Grant have been set individually by each local authority depending the allocation received from government and in Babergh and Mid Suffolk, they range from £2,500 to £10,000.
Businesses who are registered in Babergh and Mid Suffolk and meet the following criteria will be able to apply for the Discretionary Grant:
- Retail hospitality and leisure businesses with a rateable value between £51,000 and £71,000 (who were excluded from the previous schemes);
- Ofsted registered Early years providers operating from premises with a rateable value of less than £51,000 who were excluded from previous grant schemes;
- Businesses who provide direct employment to three or more people (not necessarily FTE) with a rateable value under £25,000 who were excluded from previous grants;
- Mobile businesses with fixed costs that provide employment to three or more people;
- Businesses with ongoing property cost related to their business for property, such as workshop or storage, not subject to council tax or business rates;
- Small businesses in shared offices or other flexible workspace;
- Regular market traders in Hadleigh, Stowmarket and Sudbury;
- Bed and breakfasts paying Council Tax instead of business rates who hold a current food license;
- Charities in receipt of charitable business rates relief.
Michael Holt, Babergh District Council’s Cabinet Member for Economic Growth, said: “Despite the range of Covid-19 financial packages that have been made available, there are still many businesses who have been unable to access any grants. I urge small business owners who have yet to benefit from any financial support to find out whether they qualify for the Discretionary Grant.”
And Gerard Brewster, Mid Suffolk Council’s Deputy Leader and Cabinet Member for Economic Growth, added: “The Discretionary Grant could provide a huge boost to businesses struggling because of Covid-19. Once this funding is allocated there is unlikely to be any further government funding, so it is important that eligible businesses submit their applications as soon as possible.”
The Small Business Grant and Retail, Hospitality and Leisure Grant Funds are both still open for new applications.
For any queries about the Discretionary Grant contact email@example.com