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

Criteria

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

and

  • 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.

Exclusions

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

Definitions

  • For the purposes of this scheme we apply the the following definitions:

    Relatively High Fixed ongoing commercial property costs

    • relatively high
    • small business - rent/mortgage between £2,900 - £25,000 (or over £25k if rateable value is also £15k - £25k)
    • charities - rent/mortgage between £2,900 - £25,000
    • RHL businesses and nurseries - between £2,900 and £51,000

     

    • fixed – due under a legally binding lease / rental agreement with a start date no later than 11 March 2020 for a period of at least 12 months
    • ongoing – evidenced payments being made against the leasefor at least for a minimum of 3 consecutive months
    • commercial – properties occupied by trading businesses that are not residential, domestic, or places of worship
    • property costs - rent or mortgage

     

    Small business

     A business must satisfy 2 or more of the following criteria under the Companies Act 2006:

    • turnover: not more than £10.2 million
    • balance sheet total: not more than 5.1 million
    • number of employees: a head count of staff of less than 50

    Full-time equivalents (fte)

    • full time equivalent is 35 hours per week
    • one fte block of 35 hours per week can be comprised of hours worked by more than one person 

    To qualify for a grant of £10,000 you must:

    • prove you employ 6 or more fte positions
    • demonstrate that you are incurring wage costs of 210 hours per week in total for (6 blocks of 35)

    Central government COVID- related scheme

    Businesses are ineligible if they are eligible for other covid related schemes.

    Such grant schemes include but are not limited to:

    • Small Business Grant Fund
    • Business rates scheme
    • Retail, Hospitality and Leisure Grant
    • The Fisheries Response Fund
    • Domestic Seafood Supply Scheme (DSSS).
    • The Zoos Support Fund
    • The Dairy Hardship Fund

     

    Businesses may still apply if they have claimed the Furlough scheme, or less than £1000 through the Self Employed Income Scheme (SEIS).

    Retail Hospitality and Leisure (RHL)

    Please see the attached document for the expanded guidance.

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.

Contact Business Sheffield