Dacorum have been allocated a discretionary fund to provide grants to local businesses who were not eligible for the Small Business Grant Fund or the Retail, Hospitality and Leisure Grant Fund. Applications open Wednesday 24 June for the expanded criteria.
Phase 2 of the scheme continues to target support at small and micro businesses, but will support a wider range of local businesses. The amount of funding available for Phase 2 will be capped at the amount remaining from the original £1.45 million funding pot and will be allocated on a first-come, first-served basis. When all funds have been allocated, the scheme will end.
There are two priority groups to receive funding under Phase 2:
Priority 1 – businesses with annual fixed overheads between £3,000 and £51,000. To be in this category, all of the other conditions listed below must be met. A successful applicant in Priority 1 will receive a grant of £2,000 if the property-related costs are between £3,000 and £7,499, or a grant of £5,000 if the property-related costs are between £7,500 and £51,000.
Priority 2 – businesses that have a business rates liability, and a rateable value of less than £51,000. To be in this category, all of the other conditions listed below must still be met, including having annual fixed overheads between £7,500 and £51,000. A successful applicant in Priority 2 will receive a grant of £5,000.
How will Phase 2 applications be decided?
Businesses will need to provide the information shown under the “how to apply for the grant” section (below). If a business applied under Phase 1 but was not eligible, but will now be eligible under Phase 2 it will need to reapply, but will not need to resubmit information already provided.
Applications from Priority 1 businesses will be looked at first, in the order they were received. After this, if there is still funding available, applications from Priority 2 businesses will be looked at in the order they were received.
If there is still funding available after all Phase 2 applications have been considered, this will be distributed to businesses that received funding under Phase 1 of the scheme. The businesses paid and the amount awarded will be at the Council’s discretion. Payments will be capped at a maximum of £10,000 (including the £5,000 grant made at Phase 1).
What conditions does a business need to meet to apply for a grant?
In order to target the funding at small and micro businesses, applicants must meet all of the following conditions:
For both Priority 1 and Priority 2:
- The business must have been trading on 11 March 2020, and have a reduction in income due to the coronavirus (COVID-19) pandemic.
- The business must not be in administration, insolvent or have a striking-off notice issued.
- The business must not be eligible for a cash grant from any central government coronavirus-related scheme. This includes the Small Business Grant Fund and the Retail, Hospitality and Leisure Grant Fund. (A business can have payments from the Self-Employed Income Support Scheme or Coronavirus Job Retention Scheme (furlough) and apply for this grant as well.)
- If the business is a Bed and Breakfast, it must have registered as a food business with our Environmental Health team before 11 March 2020.
- The business must have fewer than 50 employees, an annual turnover of less than £10.2 million, and a balance sheet total of less than £5.1 million.
- The business must not offer financial services.
- The business must not breach State Aid rules by accepting the grant.
For Priority 1 only:
- The business must not be a business ratepayer, unless the ratepayer is a charity in receipt of Charitable Business Rates Relief that would otherwise have been in receipt of Small Business Rate Relief or Rural Rate Relief.
- The business must be operating from a property within Dacorum, and have fixed property-related costs of between £3,000 and £51,000 per year. Property-related costs mean rent, lease or mortgage. Costs relating to a property that is also occupied as a home do not count, unless the business is a Bed and Breakfast.
For Priority 2 only:
- The business must be a business ratepayer with a rateable value of up to £51,000.
- The business must be operating from a property within Dacorum, and have fixed property-related costs of between £7,500 and £51,000 per year. Property-related costs mean rent, lease or mortgage. Costs relating to a property that is also occupied as a home do not count, unless the business is a Bed and Breakfast.
How to apply for the grant
Applications will only be accepted through the online form – you will need to provide basic information about your business, and evidence of your property costs and bank account.
Before you apply, please make sure you have the following available:
- If the business is a registered company, the company number.
- If the business is a registered charity, the charity number.
- If the business is a partnership, the names of all partners.
- If the business is a Bed and Breakfast, the Council Tax account number.
- A copy or photo of your rental agreement, lease or mortgage, clearly showing annual costs of between £3,000 and £51,000 per year for Priority 1, or between £7,500 and £51,000 for Priority 2.
- The name of your landlord or mortgage provider.
- For Priority 2 applications, the eight digit account number from your business rates bill.
- A copy or photo of a bank statement dated within the last three months, showing that the bank details you provide relate to your business.
When you complete the form, you will be declaring that all statements you make are true and accurate. If you provide false or inaccurate information you may be prosecuted, and any grant paid recovered from you.
Can I check my business is eligible?
If you have read the full policy and aren’t sure if your business will be eligible, please email email@example.com.
Published on: June 23, 2020