Telford & Wrekin Council is launching a second phase of the Discretionary Business Grants Fund to continue to support businesses hit by the coronavirus pandemic. We are now in a position to extend the scheme to include the following businesses:
- Nurseries which are subject to business rates
- Businesses with 2 or more properties within the borough where the highest rateable value is £15,000
- Small Manufacturing businesses which have premises with a rateable value of under £25,000, or more than one property with a combined rateable value of up to £25,000.
Decisions on the level of grants for phase two applicants (set at up to £5,000 or £10,000 in exceptional circumstances) will be made based on demand. The scheme will also re-open for businesses which the Government asked the Council to prioritise which are detailed below.
The application process will open at 9am, Friday 5 June 2020 and will close at 12pm Friday 12 June 2020.
The Government is making additional funding available to allow the Council to further support Small Businesses. This money is in addition to the Small Business Grant and the Retail, Hospitality and Leisure Grants announced in March.
The final Government guidance was issued on the 13 May 2020 detailing that the funding will be used to support the following prioritised businesses:
- Small businesses in shared offices or other flexible work spaces, e.g. business centres and science parks etc. which do not have their own business rates assessment
- Regular Market Traders who do not have their own business rates assessment
- Bed and Breakfasts which pay Council Tax instead of business rates
- Charity properties in receipt of charitable business rates relief which would otherwise have been eligible for Small Business Rates Relief or Rural Rate Relief
These grants can only be awarded to businesses that meet all of the following criteria:
- Small and micro businesses, as defined in Section 33 Part 2 of the Small Business, Enterprise and Employment Act 2015 and the Companies Act 2006. Please see the table below.
- Businesses with ongoing fixed building related costs (i.e. rent/lease/mortgage on a commercial property)
- Businesses with fewer than 50 employees
- Businesses that were trading on 11 March 2020
- Businesses which can demonstrate that they have suffered a significant fall in income due to the COVID-19 crisis
- The business occupies property, or part of property, with a rateable value or annual rent / mortgage payments below £51,000.
|Small Business||Micro Business|
|Turnover||Up to £10.2 million||Up to £632,000|
|Balance Sheet Total||Up to £5.1 million||Up to £316,000|
|Number of employees||A headcount of less than 50||A headcount of up to 10|
Funding for the scheme is limited, so applications are being invited between 9am on 25 May 2020 and close at 5pm on Friday 29 May 2020. Awards of £25,000 will be made to businesses with fixed building costs (rent or mortgage payments only) of over £2,500 per month. Fixed building costs of up to £2,500 per month will receive a grant of up to £10,000. Awards will be made depending on the number of applications received and the amount of fixed property costs.
One grant payment will be made to eligible businesses (regardless of number of properties) of either:
- £25,000 or
- up to £10,000.
Before you can apply you will need to gather and be able to upload the following information:
- bank statements to evidence the business was trading and has seen a significant reduction in takings are a result of COVID-19
- copy of lease agreement / tenancy agreement.
Who is not included in the scheme?
A business which falls within the existing national grant scheme; including those that have already been awarded a grant (i.e. where a grant of either £10,000 or £25,000 has been awarded under the national scheme, the business cannot claim an additional grant).
Hereditaments used for:
- personal use
- car parks
- empty premises
- occupation by precepting authorities
- national chains / organisations
- companies that are in administration, are insolvent or where a striking-off notice has been made.
Last updated: 05/06/2020 09:17