Council launches new funding scheme for small businesses
Ryedale District Council is launching a new £1.1 million small business grant scheme, to help businesses who previously missed out on Government support through COVID-19.
The additional fund announced by the Government is aimed at small businesses with high ongoing fixed commercial property-related costs who haven’t met the criteria of the Small Business Grant, or the Retail, Hospitality and Leisure Grant Scheme.
Ryedale District Council will award the grants based upon Government guidelines in order to meet local economic need. There will be grants of up to a maximum of £10,000 and for those in exceptional circumstances, a maximum grant of £25,000.
Councillor Keane Duncan, Leader of Ryedale District Council, said:
“We have already distributed more than £21.3m in business support grants to over 1800 Ryedale businesses, helping them to stay afloat and protect jobs.
“Ryedale District Council’s new grant scheme aims to support more local businesses, particularly those most acutely affected by Covid-19.
“The latest round of government funding aims to help those who previously missed out, with £1.1 million available. There is a short application window, so I would encourage businesses to apply now before it is too late.”
The Government-led scheme gives some guidance about the businesses who are eligible and Ryedale District Council has worked closely with neighbouring North Yorkshire councils to ensure that its criteria for the discretionary aspect is fair. Because of this, a two-week window for applications will be available, to ensure that the district council is given the big picture around the businesses that need help and meet the criteria. That way, informed decisions can be carried out on a case-by-case basis, ensuring that the £1.1 million is shared out in the most effective way.
Priority will be given to businesses in shared spaces, those with commercial spaces, regular market traders, and small charity properties in receipt of charitable business rates relief – as well as bed and breakfasts that pay council tax (rather than business rates).
There will be a window in which to apply for the Government led scheme. The window will open on 8 June and close at midnight on 21 June.
Ryedale District Council is launching a secure online form to collect the necessary data from businesses who are eligible and wish to apply. Full criteria and information needed to support the application form will be available at www.ryedale.gov.uk/business-support
Once received, the applications can be processed and checked for eligibility, but no decisions or payments will be made until the window has closed and exact numbers are known. Exact grant values will then be determined and the payment issued.
Payments will be made as soon as possible after the closure of the window.
*Since COVID-19, the Government committed a range of measures to support businesses, including the Small Business Grant - £10,000 grant funding to all businesses in receipt of small business rate relief, retail relief and rural rate relief. Plus, a Retail, Hospitality and Leisure Grant Scheme with grants of up to £25,000 available for retail, hospitality and leisure businesses with a rateable value of between £15,000 and £51,000.
The Government’s discretionary fund is to help certain small businesses previously outside the criteria to receive these grants. See official Gov.uk statement