The local business hardship fund is a grant for local independent business within eligible sectors who employ 10 of more staff and have been significantly impacted by COVID-19.
Sponsoring Agency: North Northamptonshire Council
Type of Fund: Grant
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 06/13/2021
Size of the Fund: Less than USD $50,000
The local business hardship fund is a grant for local independent business within eligible sectors who employ 10 of more staff and have been significantly impacted by COVID-19.
The North Northamptonshire Local Business Hardship Fund is a locally developed scheme funded via the Additional Restrictions Grant (ARG) allocated by central government to local authorities (business rate billing authorities) to administer.
The aim of this fund is to;
• Support local independent businesses who have been significantly impacted financially by Covid 19 restrictions, the severity of which is beyond the support which has been available under the existing programmes
• Support priority key sectors important to our local economy
• Protect local jobs
• Support businesses to stabilise
• Provide support and advice on economic recovery
Funding Information
In order for this grant to benefit the maximum number of eligible businesses, grants will be directly proportionate to fixed property costs, income loss and number of employees. It is proposed grants will start from £10,000 and are proportionate to the financial impact and hardship evidence by the applicant.
Eligibility Criteria
• The Government guidance issued in November 2020 gives the Council discretion over the grant and support scheme, and the Councils decisions regarding the scheme will be final.
• The Scheme includes both a financial grant and business support. This scheme is aimed at small and medium sized independent businesses that:
o Have between 10-250 employees, and
o a balance sheet total of no more than £18million or annual turnover no more than £36million
• and due to the COVID19 pandemic restrictions;
o Have been forced to close under the governments mandatory closure guidance businesses that were required to close either with or without a rateable value
o While not legally forced to close are nonetheless severely impacted by the restrictions, with or without a commercial property (for example businesses which supply or service those mandated to close). In the event the business does have a commercial property with a rateable value, the businesses who, according to the billing authority’s records, was the ratepayer in respect of the hereditament on 5th November is eligible to apply
• The Local Business Hardship Fund is available for local independent businesses, and has been designed and will be managed by North Northamptonshire Council. The government has asked local authorities to exercise their local knowledge and discretion according to local economic need, where all other qualifying factors are met (as above) priority will then be given to businesses that fall within the following categories and those that supply for the following:
o Accommodation
o Charities
o Creative & Cultural
o Hospitality, Leisure and Retail
o Manufacturing
• The business must have been open and trading on 23rd March 2020.
• Companies that are in administration, are insolvent or where a striking-off notice has been made are not eligible for funding under this scheme.
• Grants will not be paid in respect of properties that were empty or unoccupied on 23rd March 2020, even if business rates were charged.
More information at: https://www.northnorthants.gov.uk/coronavirus-covid-19/local-business-hardship-fund
Eligible Countries:
United Kingdom
