Discretionary Grants – Does your business qualify for £25,000?

/ Business and Economy, Government, SME

Author: Henry Ejdelbaum

Tags: Coronavirus, SME Access to Finance Schemes

Did you know that some small businesses might be eligible for the Discretionary Grants Scheme?

The scheme is aimed at supporting small and micro businesses in England with fixed property costs, with additional support during the coronavirus. It is targeted at businesses which are not eligible for the Small Business Grant Fund or the Retail, Hospitality and Leisure Grant Fund. The maximum grant size is £25,000 and there are detailed criteria that a business must meet in order to be eligible.

If you want to find out if you might be eligible, you can contact your local accountant directly to discuss whether these grants or other available support measures, might be available for you.

However, with some local councils requiring applicants by the 6th of June, there is a need to act fast!

The basic eligibility criteria are:

  • Be based in England
  • Have fewer than 50 employees
  • Incur fixed building costs (e.g. rent)
  • Were trading on 11th March 2020
  • Have been impacted by the coronavirus

Business might still eligible however, if they’ve applied for the Coronavirus Job Retention Scheme or the Self-Employed Income Support Scheme.

For further details, contact your local accountant, who can talk you through the criteria and how to apply, with no obligation.