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New fund launched to help small and micro businesses and charities in the East Riding

Date
Tue, 02 Jun 2020
Article

A new funding scheme aimed those small and micro business as well as charities who have so far not qualified for Government funding during the COVID-19 pandemic has been launched today.

The Government-backed discretionary grant scheme is being operated by East Riding of Yorkshire Council and will enable those businesses and charities who have suffered a significant loss of income during the lockdown and unable to access other forms of financial support, the opportunity to apply for grants of up to £25,000.

The fund is limited to £4million and will be administered in two phases, with the first phase prioritising those small and micro businesses and charities across the East Riding who have not been able to claim from the Small Business Grant Fund or the Retail, Leisure and Hospitality Grant Fund.

Priority small businesses can apply for grants of either £25,000, £10,000 or up to £10,000 in the case of micro businesses and applicants must be able to demonstrate they have on-going property costs.

Those businesses identified for phase one of the scheme are:

  • businesses in shared or flexible workspaces that do not have their own business rates assessment
  • regular market traders with fixed on-going building costs and who do not have their own business rates assessment at the market(s) they trade from
  • bed and breakfasts which are liable for council tax instead of business rates
  • charity properties in receipt of charitable business rates relief.

Phase two of the scheme will be launched in mid-June and will target those businesses who did not qualify for phase one and who the council identifies as a local priority.

Councillor Richard Burton, leader of East Riding of Yorkshire Council said; "The council has already paid out more than £71million to thousands of businesses across the East Riding via two rates-related grants but many were excluded from accessing financial support.

"There are a lot of small and micro businesses as well as charities across the East Riding who are vital to our economy and who have fallen through the gaps so this fund, although limited, will help provide some much needed financial support."

The closing date for phase one applications is Sunday, 14 June and is limited to one application per business, sole trader or charity.

For more information, details of the criteria the discretionary grants and the application form go to www.eastriding.gov.uk/discretionarygrantscheme

* Businesses across the East Riding looking for more advice and guidance during the COVID-19 pandemic, or for any other general business support enquiries can contact the council's business support team by emailing startup.business@eastriding.gov.uk

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