More businesses eligible for up to £2k home-based business grant following widening of eligibility criteria
Published Tuesday, 8 June 2021
Additional criteria have been removed from the council’s home-based business grant scheme to help make the grant even more accessible to businesses within the borough. Eligible businesses, including sole traders, partnerships, limited companies, charities, and those who are self-employed are being encouraged to apply now with the funding window only open for a few more weeks.
The £2k home-based business grant is targeted at those who can demonstrate an unavoidable fixed cost for their business. This could include vehicle costs, professional fees, software, phone costs, insurance and any other unavoidable fixed cost that can be evidenced within the application.
Businesses that have previously received the Self-Employed Income Support (SEISS) Grant are now also potentially eligible for the home-based business grant of up to £2k. Businesses that have previously been rejected for the scheme because they have been in receipt of SEISS, are now being strongly encouraged to reapply.
Councillor Peter Morgan, Executive Councillor for Renewal, Recreation and Housing said, “We are working with all businesses to ensure as far as possible that we are able to continue to support them financially following the difficult impacts of the pandemic. We have already distributed £multi millions across the borough and are determined to continue providing grant funding to those that need it. This grant is specifically targeted at smaller businesses, and following this change in eligibility criteria, I strongly encourage all businesses, including sole traders, partnerships, limited companies and those who are self-employed, to apply.”
To be eligible for this application, businesses must not registered to pay business rates, or have received business rate relief for the financial year 20/21 under the government business rate relief scheme. Businesses are only considered to be registered for business rates if they pay their rates directly to the council. Businesses that do not pay their rates directly, are still eligible for the grant, providing all other criteria are met. Applicants must also be able to demonstrate an unavoidable fixed cost, have been actively trading since 1st April 2021, have an annual income of less than £10.2m and have been impacted financially by Covid-19 pandemic.
The home-based business grant is one of many schemes that the council has introduced with the government’s Additional Restrictions Grant (ARG) funding, which aims to support businesses that are not covered by other grant schemes or where additional funding may be advantageous.
Further details about the home-based business grant scheme with applicants advised to submit an application.
Interested businesses wanting to know when other business grant schemes become available are advised to subscribe to the business newsletter Bromley Business e-bulletin where details of new grants will be outlined when they are available.
For any business-related enquiries, please contact firstname.lastname@example.org
For media enquiries, please contact Andrew Rogers, Communications Executive on 020 8461 7670 or email Andrew.Rogers@bromley.gov.uk