Grants for Small Businesses to Mitigate Coronavirus Impact
A key part of Chancellor Rishi Sunak’s 2020 budget announcements was a commitment to offering some UK small businesses £3,000 grants to help mitigate the impact of coronavirus. As the scale of the crisis’s economic impact became clear, this was subsequently increased to £10,000.
In this guide, we’ll cover who is eligible, how to apply, and the arrangements for other parts of the UK:
· Which small businesses are eligible for a coronavirus grant?
· How to apply for a coronavirus small business grant
· What small business coronavirus grants are available in other parts of the UK?
Which small businesses are eligible for a coronavirus grant?
Unfortunately, not all UK small businesses will be eligible for this grant, there are a few boxes that your business must tick. The official grant guidance https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses is that:
- Your business must have a business premises
- That business premises must be in England
- You must be eligible for either small business rate relief (SBRR) or rural rate relief https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses
This means that many startups will be excluded – basically you need to have a business premises in England, but the rateable value of those premises needs to b https://www.gov.uk/apply-for-business-rate-relief/small-business-rate-relief below £15,000.
Approximately 700,000 small businesses are expected to be eligible.
We are grateful to Julian Brent of Wyre Council for posting this on Basecamp