Hard-up Lancashire firms can claim new Government grants

A discretionary fund has been set up to accommodate certain small businesses previously outside the scope of the business grant funds scheme.

The Business Secretary Alok Sharma and Minister for Regional Growth and Local Government, Simon Clarke has told local authorities that up to £617 million will be made available.

This is an additional five per cent uplift to the £12.33 billion funding previously announced for the Small Business Grants Fund (SBGF) and the Retail, Hospitality and Leisure Grants Fund (RHLGF).

The North and Western Lancashire Chamber of Commerce welcomed the move.

Chief executive Babs Murphy said: “We have been calling for additional support for businesses and entrepreneurs who have fallen between the cracks, so it is welcome to see additional funding allocated to support some of these hard-pressed firms.”

This additional fund is aimed at small businesses with ongoing fixed property-related costs.

The Government is asking local authorities to prioritise businesses in shared spaces, regular market traders, small charity properties that would meet the criteria for Small Business Rates Relief, and bed and breakfasts that pay council tax rather than business rates.

The allocation of funding will be at the discretion of local authorities.

Businesses must be small, under 50 employees, and they must also 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.