More money for borough businesses

Businesses in Guildford who have been unable to claim other grants could be eligible for money thanks to a new grant we are launching today.

Our Discretionary Covid Hardship Scheme for Business is available to businesses which have suffered lost revenue and have fixed business costs but are not eligible for grants from the Local Restrictions Support Grant (LRSG) or Additional Restrictions Grant (ARG) schemes. Find details of these schemes and check your eligibility.

Applications for this new Scheme open at 5pm today, Monday 8 February 2021 and close at 6pm on Monday 22 February 2021.   

Grants for the new Guildford Borough Council Discretionary Covid Hardship Scheme for Business will be paid as a single lump sum covering the period 5 November 2020 up to 31 March 2021 and are not retrospective (recognising that support was provided to some businesses earlier in the year).  

Businesses applying should not already qualify for support from the LRSG (Closed), LRSG (Open) or ARG (Discretionary Schemes).  

The Scheme is not to support income or salaries as the government has provided other schemes to cover these.  

Businesses need to demonstrate that their ability to meet business-related fixed costs is severely constrained by Covid restrictions. A wide variety of costs will be considered but we will need to see evidence of them. 

Businesses will also need to demonstrate that they have experienced a significant reduction in turnover during the period 5 November 2020 to 31 January 2021 in comparison with the same period in 2019/20. The reduction in turnover must not be less than 25%.  

A lower level of grant may be payable if only the turnover reduction can be demonstrated i.e. if fixed costs have reduced or are always low.  

Applicants will need to give references from their rate demand or council tax bill; an image of their bank account, showing account name, number and sort code; their company number, charity number and VAT registration number if applicable; and information on any funds received through state aid or a declaration that the level of funds received does not exceed the limits.  

Companies that are in administration, are insolvent or where a striking off notice has been made are not eligible for funding.  
 
Grant income received by a business is taxable and will need to be included as income in the business's tax return.  

For successful applicants and depending on the volume of applications, grants will be paid in the range as highlighted below: 

  • Rateable Value (RV) </= £15,000 or if no RV and a micro business: a grant range between £3,000 and £6,500 
  • RV between £15,001 and £51,000 or if no RV and a small business: a grant range between £6,500 and £10,000 
  • RV between £51,001 and £250,000 or if no RV and a medium business: a grant range between £10,000 and £15,000  

 We welcome applications from qualifying businesses -   
 
Lead Councillor for Finance, Cllr Tim Anderson, says:  
 
"We understand that many local businesses are facing ongoing and new financial difficulty due to the continued impact of the global pandemic. As a Local Authority, we are here to support all of our local businesses and provide as much help as we can. We have already distributed over £23 million in government grants and provided business rate relief to businesses in the retail, hospitality and leisure sectors. 

"New grants to help businesses are being introduced regularly. All new schemes are published on our website. We would recommend that businesses bookmark this page. Our new Guildford Borough Council Discretionary Covid Hardship Scheme for Business will help businesses who may not have met the criteria to apply for grants before."  

Cllr Anderson continued: "We invite all businesses to get in touch as we may be able to help in other ways, including through our assistance to help businesses follow new licensing guidelines. We have also been working with the Community Foundation for Surrey's Coronavirus Response Fund, as the Mayor of Guildford's chosen charity for 2020-21, to match fund any donations to support local charities and voluntary organisations helping vulnerable, elderly and isolated members of the community. Businesses can also get information and support through the Enterprise M3 Growth Hub, at www.enterprisem3growthhub.co.uk/

"Additional help may be available through the government's Kickstart Scheme and new investment in 'green' jobs. The Department for Business, Energy & Industrial Strategy has also this week published information on additional resources available to employers and employees, including support offered by the National Federation of Self Employed & Small Businesses, at www.gov.uk/guidance/coronavirus-support-for-business-from-outside-government."

 Other grants available include: 

  • Mandatory grants for rated businesses that the tier and lockdown legislation says have to close.
  • A discretionary scheme providing ongoing support to businesses in shared premises or in specific supply chains.
  • Self-isolation payments of £500 if you cannot work from home after being told to self-isolate by NHS Test and Trace, and you currently receive benefits and will lose income whilst self-isolating.

 

Published Tuesday 9 February