New grant for businesses affected by lockdown

There's a new grant for businesses in Hinckley & Bosworth affected by coronavirus.

The Additional Restrictions Grant (ARG) aims to help businesses which have been forced to close or have been severely impacted by restrictions.

Businesses that do not have a rateable value are eligible to apply for this discretionary scheme which aims to help affected businesses which do not meet the criteria for other grants.

Hinckley & Bosworth Borough Council is distributing the grant according to an eligibility criteria and priority will be given to businesses in the greatest need.

The criterea, which is listed on the council's website, states that eligible businesses are:

• 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
• Businesses that have applied for the coronavirus job retention scheme (the so called furlough scheme) are eligible to apply for a grant under this scheme
• Businesses that are eligible for the self-employed income support scheme (SEISS) are eligible to apply for a grant under this scheme as well. The council will limit this to where there are specific business related fixed costs and the business is in our priority areas
• Businesses must have been trading on 4 November 2020 to be eligible to apply for a grant under the additional restrictions grant scheme

Council Leader Stuart Bray added: We fully appreciate how tough it is out there for local businesses and we will help as much as we can. I urge eligible local businesses to apply as soon as possible."