Applications for a new grant specifically for small businesses not registered for business rates who have been impacted by the pandemic, are now being encouraged.
Successful applicants to the home based business grant will receive up to £2k, with this grant specifically targeting businesses who are not required to pay business rates on their business address. This could include businesses being operated from home.
Councillor Peter Morgan, Executive Councillor for Renewal, Recreation and Housing said, “We are working with businesses to ensure as far as possible that they both survive and thrive, including during this period. Local businesses do not just provide vital services and employment, they also add to the rich tapestry of communities and very often also support good causes locally. This grant specifically targets the much smaller businesses, quite possibly those operated from home, this type of business not being eligible for other grants. Please do look at the criteria and we look forward to receiving your application.”
Already, over £83m of government funding has been distributed to businesses across the borough since the start of the pandemic in March 2020 with further funding set to follow.
The home based business grant is targeted at those who can demonstrate an unavoidable fixed cost for their business. This could include vehicle costs, professional fees, software, phone costs, insurance and any other unavoidable fixed cost that can be evidenced within the application.
To be eligible for this grant, a business must not pay business rates on their business property and have no more than one additional employee. Applicants must also be able to demonstrate an unavoidable fixed cost, have been actively trading since 1 April 2021, have an annual income of less than £10.2m and have been impacted financially by Covid-19 pandemic.
Applications will not be accepted from business owners who are registered for business rates, or who have received a grant from the Self-Employed Income Support Scheme. Businesses that are in administration or have been issued a fine or warning for breaching the Covid-19 rules are also not eligible.
The home based business grant is one of many schemes that the council has introduced with the government’s Additional Restrictions Grant (ARG) funding, which aims to support businesses that are not covered by other grant schemes or where additional funding may be advantageous.
Further details about the home based business grant scheme are available on the council's website, and interested businesses are advised to submit an application.
Interested businesses wanting to know when other business grant schemes become available are advised to subscribe to the business newsletter Bromley Business e-bulletin where details of new grants will be outlined when they are available.
For any business-related enquiries, please contact business@bromley.gov.uk
ENDS
For media enquiries, please contact Andrew Rogers, Communications Executive, on 020 8461 7670 or email andrew.rogers@bromley.gov.uk