New fund for forgotten businesses

Businesses in Hinckley and Bosworth can apply for money from the Discretionary Grants Fund from Monday.

Hinckley & Bosworth Borough Council has been allocated an additional £1,092,000 to support businesses across the borough as part of the Government’s Local Authority Discretionary Grants Fund.

The scheme aims to help businesses through the coronavirus pandemic in addition to the Small Business Grant and the Retail, Leisure and Hospitality Grant Funds.

It comes after Fosse 107 reported that a number of businesses had missed out on the small business grant scheme because they are in multi-tenanted buildings.

Businesses must have been trading on 11th March 2020 and not have received any other government funding (except the Coronavirus Job Retention Scheme).

The grant awards will start at £500 with a maximum potential grant of £25,000.

The scheme will provide support to businesses that fall into five main priority areas:
•    Small businesses in shared offices or other flexible workspaces,
•    Regular market traders with fixed building costs
•    Bed & Breakfasts which pay council tax
•    Charity properties in receipt of charitable business rates relief
•    Suppliers of the retail, hospitality and leisure sector who were not considered eligible for the previous grants

Leader of the Council, Councillor Stuart Bray said: “This discretionary grant scheme will allow us to provide much needed support for smaller businesses in the borough, who have not been eligible for other government schemes, to help protect people’s jobs for the future.
“Whilst I welcome this extra funding I would urge businesses to make their application immediately as it is most likely, there will be more businesses needing support than can be provided by the allocation provided.”

Applications can be made from Monday 1st June until Sunday 14th June.

All information and how to apply is available at www.hinckley-bosworth.gov.uk/discretionarygrant

The council says they aim to make payments the week commencing 22nd June 2020.