The Government announced new grant funding to help businesses across the country during the coronavirus (COVID-19) outbreak.
As South Kesteven District Council’s economic growth and regeneration company, InvestSK is pleased to be administering this funding to businesses in South Kesteven to provide crucial support during this very difficult and uncertain time.
Two funding programmes are available:
- The Small Business Grant Fund, or
- The Retail, Hospitality and Leisure Grant Fund
14th May – Guidance about the Discretionary Grant Fund have been published. This scheme is to be focused on certain small businesses previously outside the scope of the Small Business Grants Fund (SBGF) and the Retail, Hospitality and Leisure Grants Fund (RHLGF). South Kesteven Distrcit Council is currently reviewing the guidance to determine how the scheme should operate. Further instructions regarding eligibility and how to access the scheme will be provided in the near future and no action is required from businesses at this time.
Business Grants – guide to securing your payment
Step 1: Please read the FAQs from Government here
Step 2: If you believe you’re eligible for a grant, please complete the Declaration Form here
Step 3: If you believe you’re eligible and have completed a Declaration Form but haven’t yet received your payment, then please email us stating your business name and Business Rates Reference Number: business@investsk.co.uk
Step 4: If you think you’ve completed the form incorrectly, please DON’T submit another – this will delay the process – just email us and we’ll get in touch: business@investsk.co.uk
Step 5: If after reading the FAQs above you don’t think you’re eligible for a grant, then please contact us to see how else we could support you: business@investsk.co.uk
(Important note: please only complete ONE form – duplicated copies will cause additional processing and delay your payment)
HOW MUCH FUNDING WILL YOU RECEIVE?
Small Business Grant Fund
Under the Small Business Grant Fund all businesses in England in receipt of Small Business Rates Relief and Rural Rates Relief in the business rates system will be eligible for a payment of £10,000, in line with the Government’s eligibility criteria*
Retail, Hospitality and Leisure Grant Fund
Under the Retail, Hospitality and Leisure Grant, businesses in England in receipt of the Expanded Retail Discount (which covers retail, hospitality and leisure) with a rateable value of less than £51,000 will be eligible for the following cash grants per property:
- Eligible businesses in these sectors with a property that has a rateable value of up to £15,000 will receive a grant of £10,000, in line with the Government’s eligibility criteria*
- Eligible businesses in these sectors with a property that has a rateable value of over £15,000 and less than £51,000 will receive a grant of £25,000, in line with the Government’s eligibility criteria*
Businesses are not eligible for the Retail, Hospitality and Leisure Grant if:
- You do not operate in these sectors;
- You have a rateable value of £51,000 or over, or;
- You are not ratepayers in the business rates system.
* For more detail about the funding eligibility criteria, please visit the Government’s website or contact InvestSK for further guidance.
HOW IT WORKS
You don’t need to make an application to receive funding but, if you meet the criteria, you’ll need to provide some information to us – including your bank details – so the grants can be paid directly into your account.
ACTION REQUIRED NOW
HERE TO HELP YOU
We appreciate there’s a lot of information to digest, and you might want some clarity over your individual situation. In which case, please get in touch with InvestSK – we’re here to help you.
As well as offering support for this specific funding programme, InvestSK also provides a central point of contact for all local businesses. We have a dedicated page for the latest Government information, advice and funding to support businesses during the coronavirus pandemic, click here to visit.
If you can’t find the information you need or have specific questions, please contact our business support team by emailing: business@investsk.co.uk.
If you can’t find what you’re looking for, please get in touch:
Email: business@investsk.co.uk
