The government has announced a new coronavirus grant fund to help small and micro businesses with fixed property costs who are not eligible for the Small Business Grant Fund or the Retail, Hospitality and Leisure Grant Fund.
The Coronavirus Local Authority Grants Fund is for small businesses with fixed property costs that may not have met the criteria for other grant schemes.
How much could you get?
Eligible businesses can get a grant of £25,000, £10,000 or any amount under £10,000.
Who can apply?
A business may be eligible if it:
- has fixed building costs such as rent
- has been adversely impacted by the coronavirus
- has fewer than 50 employees
- was trading on 11 March 2020.
Councils have discretion over which businesses to prioritise – each council appears to be doing it differently.
Please check with your council for details of their scheme.
Local councils have been asked to prioritise businesses such as:
- small businesses in shared offices or other flexible workspaces (e.g. units in industrial parks or incubators)
- regular market traders
- bed and breakfasts that pay council tax instead of business rates
- charity properties getting charitable business rates relief, which are not eligible for small business rates relief or rural rate relief.
Businesses already claiming funding
A business cannot apply if it is already claiming funding from another grant scheme. Find full details of exceptions here.
Click here for full details of the scheme. You will need to visit your local council’s website to find out how to apply.
RfM Business Consulting is currently helping a number of businesses and not-for-profit organisations to access coronavirus support grants. Please contact Tony Backhouse if you need assistance with your application.
Good to know
The grant does not have to be paid back but it will be taxable. Only businesses which make an overall profit once grant income is included will be subject to tax.