Local Business Grant Fund Scheme Top-up

A discretionary fund has been set up to accommodate certain small businesses previously outside the scope of the business grant funds scheme.

An article published on the Government website stated The Business Secretary Alok Sharma and Minister for Regional Growth and Local Government, Simon Clarke spoke to local authorities in England on Friday 1 May 2020 to set out that up to £617 million would be made available, a 5% uplift.

Key points:

• Aimed at small businesses with ongoing fixed property related costs
• Local authorities to adapt and tailor to local needs
• Must have less than 50 employees
• Be able to demonstrate significant drop in income due to COVID-19
• Grants of up to £25k available and discretionary payment of amounts under £10,000.

Further guidance will be set out to local authorities and exact amounts announced each local authority will receive confirmed shortly.

View the government website for further information. Read full story. Click Here

Also, keep a close eye on your local government website for any announcements.