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Gloucestershire Business News

Top-up scheme helps more businesses access grants

Businesses which fell through the gaps in the Government's coronavirus grant scheme could benefit from a new scheme which could provide up to £617million in help.

Small firms who did not claim business rates relief because they paid rates through their landlord or rented shared office space were not eligible to apply for a share of the Small Business Grant Fund.

But Business Secretary Alok Sharma and Simon Clarke, Minister for Regional Growth and Local Government, have announced the new discretionary fund.

Grants of £10,000 and £25,000 were made available to businesses with under 50 employees and fixed property-related costs though the Small Business Grants Fund and the Retail, Hospitality and Leisure Grants Fund.

Payments are being made through local authorities who were each given a share of the £12.3billion government funding.

Details of how much each local authority will receive from the £617million top-up will be announced this week.

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