New Government grant launched to help small businesses during coronavirus
Small businesses in North Somerset, which have yet to receive financial support during the coronavirus crisis, can now apply for additional funding following an announcement from central Government.
A grant of £2.1 million has been awarded to North Somerset Council as part of a new Government Discretionary Grants Fund, and will offer financial support to small businesses that can demonstrate:
- they have suffered a significant fall in income because of the Covid-19 pandemic
- have fixed property-related costs
- employ fewer than 50 employees
Organisations applying for the fund must have been trading on March 11, 2020 and not have received any other Government funding.
Cllr Mark Canniford, Executive Member for Business, Economy and Employment at North Somerset Council, said: “We understand all businesses are finding life extremely hard, but the Government is asking councils to prioritise the following types of businesses:
- small businesses in shared offices or other flexible workspaces
- regular market traders who do not have their own business rate assessment
- bed and breakfasts (excluding Airbnb) which pay council tax instead of business rates
- charity properties that receive charitable business rates relief, which would otherwise have been eligible for small business rates relief or rural rate relief
“Businesses need to apply online to the Discretionary Grants Fund quickly, as the window is only open for two weeks from the 26th May until the 8th June.”
For support and advice on the Discretionary Grants Fund, and other business grants and support, contact:
Phone: 01934 426266