Possible £872,500 lifeline for struggling Worksop businesses

A second lifeline for struggling Worksop businesses is being offered - with £872,500 of funding still available.

By Ben McVay
Thursday, 16th July 2020, 6:00 am

The Local Authority Discretionary Business Grant - first rolled out in May - was designed to help businesses who have so far unsuccessfully applied for other Government funding - such as the small business grant.

During the first round only firms with a rateable value below £51,000 were permitted to apply.

However this has now risen to below £100,000 and thresholds relating to property overheads and loss of income have also changed.

A second round of applications for a discretionary council grant aimed at helping small businesses is now open - with £872,500 of funding still available. Photo: Mark Fear

Businesses which typically would be eligible for the discretionary council grant are those employing fewer than 50 staff with relatively high ongoing fixed commercial property-related costs.

Grants of up to £25,000 will be available however eligible businesses should act quickly as the deadline is on a first-come-first-served basis and closes on July 27.

Each application will be individually assessed after the closing date and due to limited funding the council may prioritise businesses ineligible for any other funding support.

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Businesses that have already received cash grants or are able to do so from any existing central government Coronavirus-related scheme are ineligible for funding from the discretionary grants fund.

This includes but is not limited to the following schemes:

Small Business Grant Fund Retail, Hospitality and Leisure Grant The Fisheries Response Fund Domestic Seafood Supply Scheme (DSSS). The Zoos Support Fund The Dairy Hardship Fund

More detailed information about eligibility for the Local Authority Discretionary Business Grant and the application form can be found HERE.

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