New Grant Scheme to Support Borough’s Small Businesses

New grant scheme to support borough’s small businesses

A new grant scheme for small and micro businesses, who may need assistance with finances during the COVID-19 outbreak, has been launched by Basingstoke and Deane Borough Council.

Following the government’s announcement of a further discretionary grant scheme on 1 May, the council will be administering this support to small and micro businesses who have not been eligible for any other support measures to date.

Grants of £2,500, £5,000, £7,500 or £10,000 will be available for small and micro businesses in the borough linked to their level of fixed property overheads costs as part of the Small Business Discretionary Grants Scheme.

They must also be able to demonstrate a significant loss of income as a result of the impact of COVID-19. To be eligible, the business must have fewer than 50 employees, occupy a property with a rateable value of up to £51,000 or part of a property with a rateable value of up to £51,000. The business must also not be eligible for any other government schemes including (but not limited to):

• Self-Employment Income Support Scheme
• Small Business Grant Fund
• Retail, Hospitality and Leisure Grant
• The Fisheries Response Fund
• Domestic Seafood Supply Scheme (DSSS)
• The Zoos Support Fund
• The Dairy Hardship Fund

Businesses looking to apply will need to complete an application form by 4.30pm on Friday 5 June. For more information on the eligibility criteria and to apply, please visit www.basingstoke.gov.uk/COVID-19-business-support-and-grants.

Cabinet Member for Finance and Service Improvement Cllr Hannah Golding said: “Helping small businesses is an important part of our work to support the local economy in Basingstoke and Deane following the COVID-19 outbreak.

“We know this is an unsettling time for businesses of all sizes and I am pleased we have been able to support a significant number of local businesses by administering the support set up by the government.

“This new grant scheme will allow us to provide much needed support for smaller businesses in the borough, who have not been eligible for other government schemes, to help protect people’s jobs for the future.”

For more information about the council’s response to COVID-19 and support available for businesses, please visit www.basingstoke.gov.uk/coronavirus.