The Government last week announced a further Grant Fund Scheme, to be known as The Local Authority Discretionary Grant Fund.

This scheme will help support small and micro businesses that are not eligible for other grant schemes

Apply for the coronavirus Local Authority Discretionary Grants Fund

 

  1. What is The Discretionary Grant Fund?
  • Small and micro businesses with fixed property costs that are not eligible for the Small Business Grant Fund or the Retail, Hospitality and Leisure Grant Fund may be eligible for the Discretionary Grants Scheme.
  • You may be eligible for a grant of £25,000, £10,000 or any amount under £10,000.

 

  1. Eligibility
  • You are potentially eligible if your business:
    • is based in England
    • has fewer than 50 employees
    • has fixed building costs such as rent
    • was trading on 11 March 2020
    • has been adversely impacted by the coronavirus:
  • Local councils are expected to prioritise businesses such as:
    • small businesses in shared offices or other flexible workspaces, such as units in industrial parks or incubators
    • regular market traders
    • bed and breakfasts paying council tax instead of business rates
    • charity properties getting charitable business rates relief, which are not eligible for small business rates relief or rural rate relief
  • You cannot apply if
    • If your business is in administration, insolvent or has received a striking-off notice;
    • You have already received
      • Small Business Grant Fund
      • Retail, Hospitality and Leisure Grant
      • Fisheries Response Fund
      • Domestic Seafood Supply Scheme
      • Zoos Support Fund
      • Dairy Hardship Fun

 

  1. How to Access the Scheme
  • Local councils have discretion about how to prioritise this funding.
    • You must contact your local council for details of their scheme – details will be available on their website;
  • Your local council will run an application process and decide whether to offer you a grant.
  • You do not have to pay the grant back but it will be taxable. Only businesses which make an overall profit once grant income is included will be subject to tax.

Barrons has put together a helpful guide to running your business during the coronavirus crisis.