Small businesses can apply for new Local Economy Business Grant
Published Wednesday, 10 June 2020
Applications for the new grant fund for local borough based businesses are now being received, with the final deadline to receive applications being 23 June.
Small and micro businesses are encouraged to apply and grants of up to £10,000 per business are available, with the application process now live. Eligible businesses have two weeks to apply, with applications being accepted until 23:59 on Tuesday 23 June.
“We have already received significant interest from local businesses which has been encouraging. There is not an open ended amount of funding here but we are looking to make sure that those who are eligible are aware, so that they can apply. What we have sought to do is to devise criteria which are designed to ensure that successful applicants will be those who also support the wider local economy. I would encourage those who may be interested to look at the information on our website and then, if they need help or advice, to please get in touch and the team will do their best to help and assist” said Councillor Peter Morgan, Executive Councillor for Renewal, Recreation and Housing.
The £2.4 million fund, Bromley’s share of the government’s Local Authority Discretionary Grants Fund is specifically designed for small and micro businesses who have not been eligible for previous grant funding schemes, usually because they are not paying business rates directly.
The setting up of the Local Economy Business Grants fund follows news that in excess of £43 million has been paid to almost 3000 businesses in the Borough and crucially too, that eligible businesses are still being strongly encouraged to come forwards.
The confirmation that there is now a two week window for businesses to apply for the Local Economy Business Grant follows earlier advanced notification that applications would be accepted with hundreds of businesses being notified directly of this today.
As part of creating the application criteria, the Business Support Task Force was consulted about the details, with this group including representatives from the borough’s Business Improvement Districts, the Federation of Small Businesses and the South East London Chamber of Commerce working together to ensure that businesses are supported through the immediate crisis of COVID-19, and to plan for the recovery of the local economy.
Further information and details about the application process, including the online form are available by visiting our dedicated Local Economy Business grant guidance page.
Editor’s notes : In order to apply for a grant, businesses will need to confirm that they meet the mandatory eligibility criteria that have been set by the government, including having been trading on 11 March 2020, not being in administration, insolvent or in receipt of a striking off notice and not being in receipt of any of the following cash grants: Small Business Grant; Retail Hospitality or Leisure Grant, the Fisheries Response Fund; Domestic Seafood Supply scheme; the Zoos Support Fund; or the Dairy Hardship Fund. Further details about the eligibility criteria is available on the Council’s website
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