Source: City of Coventry
Published Friday, 10 July 2020
Businesses that have not been eligible for previous Government COVID-19 related support schemes are invited to apply for Coventry City Council’s second round of the Discretionary Business Grant Fund.
The second round was launched this week, and small, medium and micro businesses based in Coventry have until 17 July to apply.
The scheme is aimed at:
- businesses in shared offices or other flexible workspaces
- regular market traders who do not have their own business rates assessment
- bed and breakfasts which pay Council Tax instead of business rates
- charity properties in receipt of charitable business rates relief, which would otherwise have been eligible for Small Business Rates Relief or Rural Rate Relief
Coventry City Council is also keen to provide support for businesses in the following local target sectors, and will make slightly larger grants available to these businesses:
- business in the hospitality, leisure, retail, cultural and creative sectors which were ineligible for the grant funding previously available
- independently owned manufacturing businesses (employing less than 50 employees) which have suffered a significant drop in income due to COVID-19 pandemic.
All grants are capped at £10,000 and range between £3,000-£10,000, depending on the number of employees and if the business falls into one of the two local target sectors.
Cllr Jim O’Boyle, Coventry City Council’s Cabinet Member for Jobs and Regeneration said:
“We know that it’s a struggle for businesses at the moment. The pandemic has had a far reaching impact which will be with us for some time. We know that there are still businesses that clearly need help, and we want to make sure as many Coventry businesses as possible benefit.
“I would encourage anyone who thinks they might be eligible for a discretionary grant to apply as soon as possible in order to meet the deadline and get the financial boost that they need. These are tough times but we will continue to do all we can to support local businesses.”
During the first round of the scheme the Council awarded just over £1.3million to Coventry businesses.
One local company that benefitted from the first round of the scheme was BBF. The company is based in Foleshill and provides sheet metal manufacturing and fabrication services throughout the Midlands. With orders being cancelled or postponed at the start of the COVID-19 lockdown, BBF saw their turnover drop by 45%. BBF turned to the Discretionary Grant Fund for help and were successful in securing a £10,000 grant which will help the business meet its overheads and retain staff returning to work after being furloughed.
Nichola Cordery, Owner and Director of BBF, said: “We got the grant decision within a week, it was really quick. It helps to take some of the pressure off and gives us some breathing space. It was some good news in a long line of bad news and shows us that somebody cares about small businesses and the signs are there that orders are beginning to increase.”
Businesses can apply for the funding online. The application window is open until 5pm on Friday 17 July or until funds run out. Grants will be awarded on a first-come, first-served basis.