Help for some businesses who miss out on £10k grants

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

The Business Secretary Alok Sharma and Minister for Regional Growth and Local Government, Simon Clarke said that up to £617 million would be made available to local authorities. 

This additional fund is aimed at small businesses with ongoing fixed property-related costs.

"We are asking local authorities to prioritise businesses in shared spaces, regular market traders, small charity properties that would meet the criteria for Small Business Rates Relief, and bed and breakfasts that pay council tax rather than business rates." said a spokesperson for the Government. 

Number 10 said local authorities may choose to make payments to other businesses based on local economic need.

The allocation of funding will be at the discretion of local authorities.

Is my business eligible? 

1. Your businesses must be small, under 50 employees.

2. You must be able to demonstrate a significant drop of income due to Coronavirus restriction measures.

There will be three levels of grant payments. The maximum will be £25,000. There will also be grants of £10,000. local authorities will have discretion to make payments of any amount under £10,000. It will be for councils to adapt this approach to local circumstances.

In April, Fosse 107 first reported the plight of two Leicestershire businesses which found themselves outside the scope of the Small Business Grant coronavirus scheme. 

Local councils are expected to give further details of how the funds can be applied for in the coming days.