Devon Discretionary Business Grants
Information from Devon County Council: www.devon.gov.uk/fundingnews/fund/devon-discretionary-business-grants
Focus of fund/fund aims:
Grants for small and micro businesses in Devon that have property-related costs but have not been eligible for other government grants for businesses affected by the COVID-19 outbreak
(1) 10 June 2020; (2) 24 June 2020; (3) 8 July 2020; (4) tbc - if funds allow
Devon Councils have launched a new scheme to provide funding to small and micro businesses that have been affected by the COVID-19 outbreak. Devon County Council and the eight District Councils have set up the scheme based on guidance issued by the government for local authorities to distribute Discretionary Business Grants.
This fund is available to businesses that have not been eligible for any other grant, with the exception of the furlough Job Retention scheme and Self Employment Income Support Scheme (SEISS), and which were trading on 11 March 2020.
These grants are primarily and predominantly aimed at:
- small and micro businesses
- businesses with relatively high ongoing fixed property-related costs
- businesses which can demonstrate that they have suffered a significant fall in income due to the COVID-19 crisis
- businesses which occupy property, or part of a property, with a rateable value or annual rent or annual mortgage payments below £51,000.
Grants will be awarded at five fixed levels: £1,000; £2,500; £5,000; £10,000; and £25,000.
The following types of business are prioritised:
- 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 rates assessment (max. grant £2,500)
- Bed & Breakfasts which pay Council Tax instead of business rates (max. grant £5,000)
- charity properties in receipt of charitable business rates relief which would otherwise have been eligible for Small Business Rates Relief or Rural Rate Relief.
The grants will be awarded based on the following factors:
- the evidenced level of drop in income
- fixed premises costs
- type of business (specifically, the 4 classes of business outlined above)
- number of employees
- any local weighting applied by the District Council to reflect local economic circumstances and priorities
Grants will be considered in three equal tranches over the next six weeks; a fourth tranche will be introduced if funds remain after tranche 3.