Small businesses in Medway will be able to apply for funding as part of a new scheme to further support the economy during the coronavirus pandemic.
The government has introduced a discretionary grant fund for small businesses which are experiencing financial difficulties.
Medway Council has pledged to continue supporting its local small businesses throughout the pandemic and is encouraging eligible business owners to apply for this new funding scheme. The council will be granting funding of up to £10,000 to small businesses which meet the criteria, as part of the new government fund.
The discretionary grant fund is only for businesses with fewer than 50 employees and which have not benefited from other government COVID-19 support schemes, excluding the coronavirus job retention scheme (furlough).
Medway Council will prioritise the funding for the following businesses, in line with government guidance:
- small businesses in shared offices or other flexible workspaces, which do not have their own business rates assessment
- regular market traders with fixed building costs, who do not have their own business rate assessment
- bed and breakfasts which pay council tax instead of business rates
- charity properties in receipt of charitable business rates relief, and which would otherwise have been eligible for small business rates relief or rural rate relief
Businesses in Medway have between Tuesday, 26 May and 12noon on Friday, 5 June to submit their application for the discretionary business grant fund. Medway Council will be making payments to successful applicants from late June onwards.
Medway small businesses eligible to apply for this funding must do so by the deadline. Apply online.
Continuing to do all we can to protect our local businesses
Cllr Alan Jarrett, Leader of Medway Council, said: “Medway has a diverse economy made up of 14,000 businesses of all sizes and some of those will be eligible to apply for this new discretionary grant fund. I would encourage small businesses which meet the criteria and are experiencing financial difficulties due to the current coronavirus restrictions to apply to Medway Council for this financial support. We will continue to do all we can to protect our local businesses and strengthen our economy so Medway continues to build a sustainable future with jobs and a variety of amenities on our doorstep.”