Babergh and Mid Suffolk District Councils are urging small business owners to review the expanded Discretionary Grant criteria and apply before the 24 July deadline.
The Discretionary Grant is one of a series of Government grants designed to help businesses through the challenges of the coronavirus pandemic, however, the funding is limited, and businesses are recommended to apply before it is fully allocated.
Open to those businesses who have been unable to claim any other financial support, Babergh and Mid Suffolk District Councils Discretionary Grant is aimed at retail, hospitality, and leisure businesses with a rateable value between £51-71K, Ofsted registered Early Years providers, B&Bs and other small businesses who employ three or more people.
Eligible businesses will be assessed on a range of factors including business costs, impact of Covid-19 on earnings and number of employees. The funding levels available through the Discretionary Grant have been set individually by each local authority depending the allocation received from Government and in Babergh and Mid Suffolk, they range from £2,500 to £10,000.
Businesses who are registered in Babergh and Mid Suffolk and meet the following criteria will be able to apply for the Discretionary Grant:
Cllr Michael Holt, Babergh District Council’s Cabinet Member for Economic Growth said:
“Despite the range of Covid-19 financial packages that have been made available, there are still many businesses who have been unable to access any grants. I urge small business owners who have yet to benefit from any financial support to find out whether they qualify for the Discretionary Grant.”
Cllr Gerard Brewster, Mid Suffolk District Council’s Deputy Leader and Cabinet Member for Economic Growth said:
“The Discretionary Grant could provide a huge boost to businesses struggling because of Covid-19. Once this funding is allocated there is unlikely to be any further Government funding, so it is important that eligible businesses submit their applications as soon as possible.”
The Small Business Grant and Retail, Hospitality and Leisure Grant Funds are both still open for new applications.