New boost to business as Local Authority Discretionary Grant is launched
Good news for local businesses as Mendip District Council announces the launch of a new Local Authority Discretionary Grant fund.
The purpose of this Government funding is to provide additional support for some of those small businesses not covered by the current schemes.
The new grant is the result of feedback to Ministers provided by Mendip, plus other Local Authorities and business organisations, who highlighted that flaws in existing grant schemes meant some small businesses in their area were missing out.
Mendip District Council will be paying out a maximum of £10,000 per application. There is a finite amount of money available, and a time limit imposed for applications.
The funding will be at the discretion of Local Authorities and is aimed at small businesses with ongoing fixed property-related costs.
Local Authorities are being asked 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.
Leader of Mendip District Council, Cllr Ros Wyke, said: "This is welcome news for businesses in Mendip who missed out on other schemes. Many local firms will find this funding key.
"Registration is straightforward and the forms are easy to navigate. We urge eligible people to apply."
To benefit, businesses will need to meet strict criteria, including:
- Businesses must have less than 50 employees
- Businesses must have been trading prior to 11th March 2020, and have evidence of this
- Businesses have not received cash grants from specified Government COVID-19 schemes to date
- The business must occupy property, or part of a property, with a rateable value or annual rent or annual mortgage payments below £51,000
- Local Authorities may choose to make payments to other businesses based on local economic need.
The scheme is time-limited. It will be open for applications fromTuesday 26th May at 9am, and will close at 5pm on Tuesday 9th June.
Businesses should start to receive payments during week commencing 15th June 2020.
To apply for the grant you will need to be registered on our website here: www.mendip.gov.uk/businessrates
Once registered you will be asked to upload evidence on the secure site, including bank statements and details of your accounts.
For enquiries, email: MendipGrants@mendip.gov.uk