Further Funds to Help Borough's Businesses During PandemicPublished Friday, 29 May 2020
An additional £867,750 has been made available to Ribble Valley Borough Council to provide further support to the borough’s small businesses during the coronavirus crisis.
The funding is on top of the £18.926million received from the Government for the Small Business Grant Fund and the Retail, Hospitality and Leisure Grant Fund.
The new scheme is aimed at small businesses that were not eligible for assistance from the Small Business or Retail, Hospitality and Leisure Grant Funds.
Small businesses that can demonstrate they have suffered a significant fall in income because of the pandemic, have relatively high ongoing fixed property-related costs and occupy property, or part of a property, with a rateable value, annual rent or annual mortgage payments below £51,000, are eligible to apply.
Grants of £25,000, £10,000 or between £500 and £10,000 will be awarded, depending on the number of applications received and funding available.
Businesses must have been trading on 11 March, 2020, and not received any other Government funding.
Ribble Valley Borough Council has been asked by the Government to prioritise certain types of businesses for the new grants: small businesses in shared offices or other flexible workspaces, regular market traders without a business rate assessment, bed and breakfasts (excluding Airbnb) that pay council tax instead of business rates and charity properties that receive charitable business rates relief and would otherwise have been eligible for small business rates relief or rural rate relief.
The new discretionary grant aims to support the maximum number of businesses with the greatest needs within available funds.
More than 1,400 Ribble Valley businesses have been assisted so far under the Small Business and Retail, Hospitality and Leisure Grant Funds.
Online applications are available to determine the number of businesses that might be eligible for a discretionary grant, subject to meeting criteria and providing a suitable business case.
Ribble Valley Borough Council leader Stephen Atkinson said: “We are pleased the Government has recognised that a number of businesses missed out on support under the previous grant schemes.
“We will be using our knowledge of the local economy to assist those small businesses that fall within the new criteria and can demonstrate they are most in need of support.”
Further details on the Discretionary Grants Fund criteria and an online form are available at ‘Covid-19 Business Support’ at ribblevalley.gov.uk/discretionarygrant.
Ribble Valley Borough Council is still accepting applications from eligible businesses for the Small Business Grant Fund and Retail, Hospitality and Leisure Grant Fund.
Government guidance for all of the the funds is available at gov.uk.