Public Sector

£4 million more grant support for Gloucestershire businesses – from start-ups upwards

Written by: Andrew Merrell | Posted 11 June 2020 7:40

£4 million more grant support for Gloucestershire businesses – from start-ups upwards

Businesses across the county can now apply for more funding thanks to a newly launched business support grant scheme. 

According to the council distributing the Government cash the fund offers priority to businesses which were not eligible for support in the previous scheme. 

Funding for this grant scheme is limited and therefore businesses need to submit online applications during a short period between June 9 and June 21. 

The maximum grant that can be awarded in the local scheme is £25,000. The next level is £10,000 and then any amount under £10,000.  

The scheme is the work of four local councils - Cheltenham, Gloucester, Stroud and Tewkesbury. 

According to the local authorities “the collaborative approach is to ensure effective and fair distribution of discretionary grant funding”, primarily aimed at: 

·   Small and micro businesses. 

·   Businesses with relatively high ongoing fixed property-related costs. 

·   Businesses which can demonstrate that they have suffered a significant fall in income due to the COVID-19 crisis. 

·   Businesses which occupy property, or part of a property, with a rateable value or annual rent or annual mortgage payments below £51,000. 

The councils’ shared policy allows for some discretion but the government has prioritised the following types of businesses to be included in schemes. 

·   Small businesses in shared offices or other flexible workspaces. Examples could include units in industrial parks, science parks and incubators which do not have their own business rates assessment. 

·    Businesses in the hospitality industry, with grants for businesses with a rateable value between £51,000 and £105,000. 

·    Regular market traders with fixed building costs, such as rent, who do not have their own business rates assessment. 

·    Bed and breakfast businesses, which pay council tax instead of business rates. 

·    Charity properties in receipt of charitable business rates relief which would otherwise have been eligible for small business rates relief or rural rate relief. 

The partnership of councils is said to be drawing upon advice from the local BIDs (business improvement districts) and LEP (local enterprise partnerships). 

How to apply: 

Businesses can apply and access the full criteria on their own council’s website. The application form and criteria will be available at. 

 The launch of the shared scheme builds on the support for businesses over the past few weeks with the four councils collectively paying out £79.5m in grants to 6,722 businesses. 

View the guidance issued by BEIS to councils on the approach to their discretionary grant schemes. 

Cheltenham Borough Council has £1.12 million of grant funding to give out, Gloucester City Council £1.04m, Stroud £1.4m and Tewkesbury £883,000.