A grant for small businesses with relatively high fixed property costs who meet other criteria. One grant per business (not per property), it is taxable but not repayable.
What criteria has changed?
- 1. small businesses can apply if their rent is between £2900 - £25k (or over £25k if rateable value is also £15k - £25k)
- 2. businesses must occupy and trade from the premises
- 3. claimants of less than £1000 from the Covid Self Employed Income Scheme (SEIS) can apply
- 4. businesses that own their property outright, can apply if their Rateable Value is between £15001 - £25k
- 5. businesses that pay their rent costs via legitimate cash arrangements can apply
- 6. premises used for storage can now apply
- 7. excluded: landlords and subletters
- 8. excluded: all premises not capable of accommodating trading activity. (eg. car parks, advertising sites, energy networks)
- 9. excluded: businesses who were successful in the previous discretionary grant or business rates schemes
To apply, a business meet all of the following:
- was trading on 11 March 2020
- is not insolvent, in administration or have received a striking-off notice
- is a small or micro business
- has less than 50 employees
- has relatively high ongoing fixed commercial property costs
- can demonstrate a significant fall in income due to the COVID-19 crisis
- must be an occupier trading from these premises
- the business is not eligible for any other central government COVID-related grant. (You can still apply if you claimed furlough or self employed income scheme SEIS of less than £1000).
How we calculate the value of the grant
The amount depends on:
- business type
- business rent/mortgage or rateable value costs
- number of full time equivalent employees (i.e how many lots of 35hrs are worked each week)
The document shows how much you may be entitled to.
The following exclusions apply:
- if a business has already received a grant from the business rates scheme
- where there is evidence applicants are having a detrimental impact on the city, our residents or our neighbourhoods
- businesses operating from domestic or residential settings other than B&B’s
- businesses operating from churches or places of worship
- businesses who do not both occupy and trade from the premises
- landlords and subletters
- businesses that are part of a national chain
- national charities
- small business not in retail / hospitality/leisure sector with a rateable value or rent over £25k per annum
- charities entitled to access the £750m frontline Covid National Lottery Community Fund
- premises not capable of accomodating trading activity, eg carparks, energy networks, advertising sites
How we process your application
As this scheme has limited funds:
- we assess complete applications on a strict first come first served basis
- an application is complete when we receive the form and all required evidence
- if we request more information, you must provide it within 5 working days to keep your position in the queue
How to apply
Complete the online application form. The closing date is midnight 31 July 2020.
Market traders and B&Bs
Do not apply online. We will contact you directly.
How to apply
Complete the online application form. The closing date is midnight 10th August 2020.
State Aid statement
This grant is considered by Government as a State Aid and will therefore be awarded under the either of the following regimes:
- EU State De-Minimis Regulation or
- the UK Covid-19 Temporary Framework
You will receive a letter from us to confirm this once you receive payment.