At the weekend, the Government announced additional discretionary support for small businesses, including charities. This additional fund of £617m will be distributed via local authorities. It is aimed at small businesses - and charities - with ongoing fixed property-related costs. 'Discretionary' is a key issue. Local authorities are being asked by the Government to include priority for small charity properties that would meet the criteria for Small Business Rates Relief. However local authorities may choose to make payments to other businesses, based on local economic need. The allocation of funding will be at the discretion of local authorities. To qualify, organisations must have fewer than 50 employees, and be able to demonstrate that they have seen a significant drop of income due to coronavirus restriction measures. There will be three levels of grant payments. The maximum will be £25,000. There will also be grants of £10,000. Local authorities will have discretion to make payments of any amount under £10,000. The Government says it will be for councils to adapt this approach to local circumstances. This is a limited amount of funding and we encourage 3rd sector organisations in Banes to apply as soon as possible. You can read the full details (so far) here.
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