Business News coronavirus

Further business grants available

Test Valley Borough Council has a further £1.4million to help local businesses.

The authority was allocated £1,411,250 from the Local Authority Discretionary Grants Fund. The money is made available from central government to help support the economy in the fight against coronavirus.

Grant payments of £2,500, £5,000, £7,500 or £10,000 will be awarded to small businesses with fixed ongoing property-related costs that have fallen outside the eligibility criteria for any existing business grant scheme.

Businesses can apply through the council’s website from Monday (8th June 2020) and the scheme closes on Sunday 23rd June. The council confirm that awarded grants are taxable.

The council recently processed more than 2,080 small business grants through the Business Support Scheme to the value of £25.715 million from government funding.

Finance portfolio holder, councillor Maureen Flood, said,“It is no secret that the coronavirus pandemic has hugely impacted local businesses and these funds will make a difference supporting businesses as workplaces reopen.

“I would urge any small business to visit the council’s website and check their eligibility for this grant, and share with other businesses to encourage as many applications as possible.”

Businesses can check eligibility and guidance notes, and apply, via the council’s website under ‘coronavirus advice for businesses’.