Council unveils more financial aid for local small businesses

Business News

Hundreds of local small businesses impacted by the coronavirus, and who were ineligible for previous government grant schemes are set to receive financial support, as part of a £2.4m grant fund.

Small businesses in shared office or flexible workspace, charities, bed and breakfasts, private childcare nurseries and market traders with lease agreements are amongst those set to be eligible for the new grants from Rotherham Council, which range from £1,000 to £25,000.
 
To qualify, firms must be defined as a small or micro business and:
  • have been active and trading on 11 March 2020.
  • have fixed costs, not exceeding £51,000 per year.
  • be able to show they have suffered a significant loss of income due to the COVID-19 crisis.
Although the Council’s Cabinet will discuss the proposals and finalise arrangements in place at its meeting on 15th June, businesses are encouraged to find out more and where appropriate make their applications now via the Council’s website 
 
Applications can be made up to midnight on 5th July using the online form.

The nationally prescribed Small Business Grant Fund and the Retail, Leisure and Hospitality Fund, has already provided more than £40 million in aid to 3,600 local companies.
 
Businesses that are eligible for this funding who have not yet claimed it are still encouraged to do so.
 
Councillor Saghir Alam, Cabinet Member for Finance and Corporate Services, said: “The £40 million in support we have paid to Rotherham businesses so far during the coronavirus crisis is a lifeline for livelihoods, jobs and our local economy. And I am pleased that we are now able to go further.
 
“Many Rotherham businesses have suffered severe hardship over the last few months. The discretionary grant fund has been devised to provide support to many of those businesses impacted by coronavirus but who weren’t eligible for the previous financial assistance available.
 
“We only have a finite amount of money available, so the scheme is designed to be flexible, allowing us to adjust payments, depending on the uptake. I would urge those eligible firms to apply as soon as possible.”
 

Published: 8th June 2020