News release from 12/06/2020
Deadline approaches for small business grants
South Cambridgeshire’s small businesses have just over a week left to apply for a share of around £1.25 million in Government grant funding, to help them recover from the impacts of Coronavirus.
The District Council is administering the Discretionary Grants Scheme, which is aimed at the hundreds of local companies who have so far not been eligible for Coronavirus support.
Businesses which are eligible for cash grants from any other central Government Coronavirus-related scheme are not eligible to receive a grant under this scheme, except support given under the Self Employed Income Support Scheme and the Coronavirus Job Retention Scheme.
The deadline to apply for the funding is Monday 22 June.
Eligible businesses such as charities, market traders, B&Bs and those in shared offices or flexible workspaces are invited to apply as soon as possible.
Businesses not included in the above, which form part of the supply chain for the retail, hospitality and leisure industry, can also apply provided they demonstrate they have lost around 75% of their annual income as a result of the Coronavirus pandemic. The wording around this part of the eligibility criteria has changed since the grant scheme was launched as previously businesses needed to demonstrate that they had lost at least 75% of their annual income. To help more companies, this was altered to around 75%.
The one-off payments range from £2,500 for small firms, £10,000 for charities and up to £10,000 for other businesses connected to the retail, hospitality and leisure industry. Firms that have already benefitted from previous Government grants do not qualify.
Eligible businesses include:
- Small businesses in shared offices or other flexible workspaces with a minimum rent of £250 per month
- Regular market traders who are based in the same physical location with fixed building costs and registered with the Council’s Environmental Health / Licensing Service
- B&Bs that pay Council Tax and are registered with the Council’s Environmental Health Service
- Charities that pay business rates to the Council and would meet the criteria to receive Small Business Rates Relief if they were an equivalent sized business.
These businesses will be notified of the Council’s decision as soon as possible.
The Council has a fifth category for businesses not included in the above, which form part of the supply chain for the retail, hospitality and leisure industry and can demonstrate they have lost around 75% of their annual income as a result of COVID-19. With funding limited, the over-riding factor for grant determination will be the number of people employed. These businesses will be advised of any decisions after 22 June.
Among the qualifying criteria, businesses must have been trading on 11 March 2020, have a turnover of no more than £10.2m and employ less than 50 people.
South Cambridgeshire District Council Leader, Cllr Bridget Smith (pictured - above), said: “We’ve contacted all of the local businesses who registered an interest in this scheme and have been receiving applications since it opened. This is about making sure our vitally important local companies can stay in business and secure jobs. However, we know there will be some businesses which are eligible but have not applied yet. It’s quick and easy to do this via our website so I’d urge them to apply now – and certainly before the deadline of 22 June. We’ll then work to process the applications and make the payments as soon as possible.”