Over £1.25m in grant funding is now available to help hundreds of small South Cambridgeshire businesses – who have not been eligible for Coronavirus support so far – to secure jobs and recover.
Eligible businesses such as charities, market traders, B&Bs and those in shared offices or flexible workspaces are invited to apply as soon as possible to the District Council for the new funding, and no later than midnight on 22 June.
The one-off payments under the Government’s discretionary grants scheme range from £2,500 for small firms, £10,000 for charities and up to £10,000 for other businesses connected to the retail, hospitality and leisure industry. Firms that have already benefited from previous Government grants do not qualify.
The Council has set up a special team to assess applications and distribute funding fairly and efficiently to eligible businesses that need support as the lockdown eases. This includes:
- Small businesses in shared offices or other flexible workspaces with a minimum rent of £250 per month
- Regular market traders who are based in the same physical location with fixed building costs and registered with the Council’s Environmental Health / Licensing Service
- B&Bs that pay Council Tax and are registered with the Council’s Environmental Health Service
- Charities that pay business rates to the Council and would meet the criteria to receive Small Business Rates Relief if they were an equivalent sized business.
These businesses will be notified of the Council’s decision as soon as possible.
The Council has introduced a fifth category for businesses not included in the above, which form part of the supply chain for the retail, hospitality and leisure industry and can demonstrate they have lost a minimum of 75% of their annual income as a result of COVID-19. With funding limited, the over-riding factor for grant determination will be the number of people employed. These businesses will be advised of any decisions after 22 June.
Among the qualifying criteria, businesses must have been trading on 11 March 2020, have a turnover of no more than £10.2m and employ less than 50 people.