The Small Business Discretionary Grant Fund has been introduced to provide grants to small businesses within the borough who have fixed property costs and have not been able to benefit from existing government assistance programmes.
These grants are primarily and predominantly aimed at:
- Small and micro businesses, as defined in Section 33 Part 2 of the Small Business, Enterprise and Employment Act 2015 and the Companies Act 2006.
- Businesses with relatively high ongoing fixed property related costs
- Businesses which can demonstrate that they have suffered a significant loss in income due to the Covid-19 crisis
- Businesses which occupy property, or part of a property, with a rateable value, annual rent or annual mortgage below £51,000
- Business which were trading on the 11 March 2020
Companies that are in administration, are insolvent or where a striking - off notice has been made are not eligible for funding under this scheme.
Businesses which are eligible to receive cash grants from any other Central Government Covid-19 related scheme are not eligible for a payment from the Discretionary Grants Fund. Such grant schemes include but are not limited to:
- Small Business Grant Fund
- Retail, Hospitality and Leisure Grant Fund
- The Fisheries Response Fund
- Domestic Seafood Supply Scheme (DSSS)
- The Zoo Support Fund
- The Dairy Hardship Fund
Businesses who have applied for the Coronavirus Job Retention Scheme (furloughing) or are who are eligible for the Self-Employed Income Support Scheme (SEISS) are eligible to apply for this scheme.
Peterborough City Council will prioritise grant payments to those organisations who fit within the policy intentions of Central Government:
- Small businesses in shared offices or other flexible workspaces
- Regular market traders with fixed building costs, such as rent who do not have their own business rate assessment. The Council would consider these to be traders with a current rental agreement of no less than 6 months
- Bed & Breakfast accommodation which pay Council Tax instead of Business Rates.
- Charity properties in receipt of charitable business rates relief which would otherwise have been eligible for Small Business Rates Relief or Rural Rate Relief.
Where funding remains after the initial allocations it will then be allocated to businesses and charities in the following 2 areas on a 50:50 basis:
- Businesses and charities who have supported the Council with its delivery of Coronavirus support to local communities
- Businesses and charities who support and/or supply the Retail, Hospitality and Leisure sectors but who are not eligible for grant funding under those schemes
The funding received in respect of this scheme is £1.47m and the Council anticipates that the demand for the discretionary grants will be greater than the amount of money we have received from Central Government. Our aim is to support as many businesses as possible whilst keeping the individual grant payments high enough to still provide meaningful support to eligible businesses.
Annual property costs
£3,000 or below
£3,001 - £5,000
£5,001 - £20,000
£20,001 - £50,999
How to apply
There will be a defined timeline for receipt of applications under this scheme, applications will not be permitted after the window has closed:
- Applications open - 15 June 2020
- Application window closed - 26 June 2020
Applications are now closed.
The full guidance document is available to download below.