BCP Council has begun the process of distributing £4.3 million in grant support to small businesses eligible for the Local Discretionary Grant scheme.
Between 29 May and 15 June, over 800 local businesses applied for the latest Government grant scheme and the Council has since been working hard to review each case to ensure payments can be made as soon as possible.
All applicants should now be contacted within the next two weeks and advised on the outcome of their application and the level of grant support which will be provided. The first payments and award notifications were issued yesterday. Where necessary further information may also be requested before grants can be issued.
To be considered eligible businesses will need to have demonstrated the impact of Covid-19 on their income, have ongoing fixed property-related costs and occupy property or shared office space with a rateable value, or annual mortgage, lease rent or licence below £51,000.
Grant levels have been based on number of applications, the priorities set by government and local needs identified by the Council. They are £1,000 for Market Traders, £2,500 for B&Bs and in the main be either £5,000, £7,500 or £10,000 for small and micro businesses. Charities grants are set at £10,000. Where the business has very high property costs (under the £51,000 level) discretion may be used to award a £25,000 grant, each case will be considered individually.
Councillor Vikki Slade, Leader of BCP Council, said:
“Considering the number of applications we received, I am really pleased that we’ve been able to turn this round so quickly. It comes at a critical time for many small businesses who will be facing significant financial difficulties after months of pandemic related disruption. I hope the grants will provide much needed aid, especially to those who will now looking to re-open in the coming weeks. As always we will continue to pursue and lobby for further support from Government to help local businesses recover.’’
For more information on local business support, please visit: www.bcpcouncil.gov.uk/covid19businesssupport.