Small businesses in the borough encouraged to apply for grant support
Following the first round of applications to the Small Business Discretionary Scheme, £652,500 of funding has been paid to 109 small businesses and a new application round will be launched on Monday (29 June).
Grants of £2,500, £5,000, £7,500 or £10,000 will be available for small and micro businesses in the borough linked to their level of fixed property overheads costs.
When applying, businesses must be able to demonstrate a significant loss of income as a result of the COVID-19 pandemic. To be eligible, the business must have fewer than 50 employees, occupy a property with a rateable value of up to £75,000 or part of a property with a rateable value of up to £75,000. The business must also not be eligible for any other government schemes including (but not limited to):
• Self-Employment Income Support Scheme
• 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
Businesses are being encouraged to apply as soon as possible as grants will be administered on a first-come, first served basis. The new application window will launch on Monday (29 June) and businesses will need to complete an application form by 4.30pm on Thursday 9 July.
For more information on the eligibility criteria and to apply, please visit www.basingstoke.gov.uk/COVID-19-business-support-and-grants
Cabinet Member for Finance and Service Improvement Cllr Hannah Golding said: “Helping small businesses is an important part of our work to support the local economy following the COVID-19 pandemic and I am pleased that we have already been able to provide grants to over 100 small businesses who have applied.
“This funding will allow us to provide much needed support for smaller businesses in the borough, who have not been able to access other government schemes, to help protect people’s jobs for the future.
“I would encourage all small businesses in the borough who are eligible for this funding to apply as part of this new round to allow us to administer this support as quickly as we can.”
For more information about the council’s response to COVID-19 and support available for businesses, please visit www.basingstoke.gov.uk/coronavirus