New fund for businesses falling through the gaps

The UK government has announced a £617m discretionary fund to local authorities in England to help small businesses impacted by Coronavirus who were previously outside the scope of the business grant funds scheme. Local authorities are able choose to make payments to other businesses based on local economic need.

However, the UK government has asked local authorities to prioritise businesses in shared spaces, regular market traders, small charity properties that would meet the criteria for Small Business Rates Relief, and bed and breakfasts that pay council tax rather than business rates. There will be three levels of grant payments with £25,000 as the maximum grant