A new discretionary grants fund to support certain small businesses which have been impacted by coronavirus and do not meet the existing cash grants criteria has been launched.
Grants of £2,000, £5,000 and £10,000 will be available.
The funding will be allocated in two phases with the first phase now open.
It will close on Friday 12 June at 5pm and the first payments made week commencing 15 June.
Phase one will prioritise the following applicants:
- Small businesses in shared offices or other flexible workspaces. Examples could include units in industrial parks, science parks and incubators which do not have their own business rates assessment;
- Regular market traders with fixed building costs, such as rent, who do not have their own business rates assessment;
- Bed & Breakfasts which pay Council Tax instead of business rates; and
- Charity properties in receipt of charitable business rates relief which would otherwise have been eligible for Small Business Rates Relief or Rural Rate Relief.
Oldham Council has set out detailed criteria on the local scheme to try and ensure as many businesses as possible can receive financial support.
Grant awards will be based on annual property costs:
- For businesses that are charged an annual rent and property related charge of between £1,200 to £2,000 will receive a grant payment of £2,000.
- For businesses that are charged an annual rent and property related charges of between £2,001 to £5,000 will receive a grant payment of £5,000.
- For businesses that are charged an annual rent and property related charge of £5,001 or more will receive a grant payment of £10,000.
The discretionary grant fund is for businesses that are not eligible for other coronavirus grant schemes and is primarily and predominantly aimed at:
- Small and micro businesses
- Businesses with relatively high ongoing fixed property-related costs (>£1,200 per annum – however, storage units are excluded).
- Businesses which can demonstrate that they have suffered a significant fall in income due to the COVID-19 crisis
- Businesses which occupy property, or part of a property, with a rateable value or annual rent or annual mortgage payments below £51,000.