Discretionary Grants Fund for Business
On 13 May 2020 the Government published guidance for Local Authorities to develop a local discretionary business grant scheme.
The scheme is intended to support small and micro businesses who are not eligible for any other of the government business support schemes.
This Council is now working to develop the local discretionary criteria for the scheme which will be primarily and predominantly for those small and micro business that were trading on the 11th March 2020 and that:
- Are defined as small or micro business under the Companies Act 2006
- Are not eligible for any other covid-19 related government business support schemes
- Have relatively high ongoing fixed property-related costs
- Can demonstrate that they have suffered a significant fall in income due to the Covid-19 crisis
- Occupy property, or part of a property with a RV, annual rent or annual mortgage payments below £51k.
The scheme has a limited financial envelope and therefore it is important that it is designed carefully to ensure that it is available to those eligible local businesses that are most in need of help as a result of COVID-19.
Once a scheme for the Borough of Kettering has been developed full details will be published on our website