Tuesday, August 16, 2022

North Northamptonshire firms adversely affected by Covid-19 offered grants

Businesses in the North Northamptonshire area – adversely affected by the Covid-19 pandemic – could be entitled to grant funding to help give them and the local economy a boost.

North Northamptonshire Council is administering the Discretionary Restart Grant along with a Local Business Hardship Fund.

Eligible businesses have until Wednesday, 13 June to apply for the money.

Rob Harbour, the council’s assistant director for growth and regeneration, said: “The pandemic has been hard for everyone and while the social restrictions have been necessary to halt the spread of the virus some businesses have been hit very hard.

“We would urge any businesses which feel they would be eligible for funding to get in contact. We would emphasise that this is grant funding as opposed to a loan, specially designed to give firms a helping hand to get them back on their feet.

“Small and medium-sized businesses form the backbone of the North Northants economy so it’s essential that we do what we can to ensure we offer them assistance.”

Discretionary Restart Grant

The North Northamptonshire Discretionary Restart Scheme is designed for the following business who are not eligible for the mandatory Restart Scheme as their business does not have a rateable value. This includes the following sectors:

  • Non Essential Retail
  • Hospitality
  • Leisure
  • Accommodation
  • Gyms & Sports
  • Personal Care

For properties with a rateable value of £15,000 or under or Micro Business (0-9 employees) with no rateable value – £2,191 grant is available.

For properties with a rateable value of over £15,000 and below £51,000 or Small Business (10-49 employees) with no rateable value – £3,286 grant is available.

For properties with a rateable value of £51,000 or over or Medium Business (50-250 employees) with no rateable value – £4,928 grant is available.

Local Business Hardship Fund

The aim of this fund is to support local independent businesses which have been significantly impacted financially by Covid 19 restrictions, the severity of which is beyond the support which has been available under the existing programmes.

Priority will then be given to businesses that fall within the following categories, and those that supply for the following:

  • Accommodation
  • Charities
  • Creative & Cultural
  • Hospitality, Leisure and Retail
  • Manufacturing

In order for this grant to benefit the maximum number of eligible businesses, grants will be directly proportionate to fixed property costs, income loss and number of employees. It is proposed grants will start from £10,000 and are proportionate to the financial impact and hardship evidence by the applicant.

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