Council distributes £26 million in business grants

Council distributes £26 million in business grants

Bassetlaw District Council has helped more than 2,300 businesses in the district by administering and paying out more than £26 million of Government funding as part of grant schemes designed to help businesses through the Coronavirus Pandemic.

In March, the Government announced that grants of £10,000 and £25,000 would be made available to eligible businesses in the Retail, Hospitality, and Leisure Sector as well as businesses in receipt of small business rate relief or rural rate relief.

Further Discretionary Grants were also made available for eligible businesses that had not been able to receive any other form of Government funding, with grants of between £2,000 and £25,000 paid out.

All of these grant schemes closed at the end of August with the following amounts distributed to businesses that met the Government’s criteria and were eligible to receive the funding.

Grant funding breakdown:

  • Small Business Grants - £17,140,000 distributed to 1,714 businesses.
  • Retail, Hospitality and Leisure Grants – £7,765,000 distributed to a total of 442 businesses. £2,190,000 in £10k grants / £5,575,000 in £25k grants.
  • Discretionary Grants – £1,178,000 distributed to 148 businesses through grants between £2k to £25k.
  • Total Grants - £26,121,000
  • Total businesses paid – 2,304

In addition to these grants, more than 700 businesses in the retail, hospitality and leisure sector (including Childcare Nurseries) have also benefited from around £12 million worth of Business Rates discounts.

Cllr June Evans, Cabinet Member for Finance at Bassetlaw District Council, said:

“The Council has worked incredibly hard to distribute £26 million of Government Funding and support all of the businesses that were eligible. In addition to businesses applying for the grants, our Finance and Economic Development Teams tirelessly contacted eligible businesses to guide them through the process and support them through what was an extremely difficult period.

“During the worst of the lockdown period, these grants were a lifeline for businesses who couldn’t trade or had their income severely reduced. We hope that the grants have allowed them to continue to trade and ride out the worst of this extraordinary period.

“While we have managed to help thousands of businesses, we are mindful that not everyone received funding. We regret that we were not able to help all businesses, however we were required to work within the Government guidelines and rigidly apply the eligibility criteria that determined which businesses received funding.”

 

Notes:

The Council received £28.8 million of funding from the Government on 1st April.

The grants available to businesses include:

  • Small business grant funding of £10,000 for all businesses in receipt of small business rate relief or rural rate relief
  • £10,000 grant per business in the Retail, Hospitality, and Leisure Sector with rateable value of 15k or less
  • Grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between 15,001 and 50,999

Bassetlaw District Council also received £1,178,000 as part of the Local Authority Discretionary Grants Fund to support small Businesses that had not been eligible to receive any form of Government Support Grants.

Government guidance allowed Councils to collaborate and a Nottinghamshire District and Borough Councils scheme was agreed. This ensured that eligibility criteria was fair and consistent across Nottinghamshire and reflected the criteria stipulated within the government guidance.


Last Updated on Tuesday, September 8, 2020