Coronavirus Business Grants Update – February 2021

Date: 

Thursday, 11 February, 2021

Applications are now open for the Additional Restrictions Grant (Phase 2) 

The Additional Restrictions Grant Phase Two has been drawn up to help support businesses effected financially by the Covid-19 Pandemic.

Phase Two’s ambition is to support businesses who have had their income impacted, even where they were not mandated to close by government 

The initial application window will be open for two weeks for businesses to apply for this fund (further rounds will be subject to budget).

Eligibility

Businesses that qualify as either a micro or a small business (as defined in the Small Business, Enterprise, and Employment Act 2015 and the Companies Act 2006.)

To qualify as a small business, applicants must demonstrate at least two of the following criteria in a year: -

  • Turnover: Not more than £10.2 million

  • Balance sheet total: Not more than £5.1 million

  • Number of employees: a headcount of staff of less than 50

Businesses are eligible, where one or more of the below statements apply:

  • Non-rated businesses that have been mandated to close but are ineligible to apply for a grant under the Local Restrictions Support Grant (closed) scheme.

  • Businesses which have previously been awarded grants under the Small Business Grant Fund (SBGF) or Local Authority Discretionary Grant Fund (LADGF).

  • Businesses that are NOT mandated to close but are adversely impacted by national restrictions and/or other factors associated with COVID-19.

Find out more and apply on this link.

Find out more about COVID business grants processed by SHBC here -

Access information for your business in Surrey Heath here - https://businessinsurreyheath.co.uk/

COVID Business Grants Background

The Chancellor announced a £4.6b funding package on 5 January 2021.  It is aimed at supporting businesses through the latest restrictions. The new grants are payable to businesses that are required to close during the current restrictions.