Grants available to North Northamptonshire businesses hit hard by Covid

Businesses in the North Northamptonshire area, adversely affected by the Covid-19 pandemic, could be entitled to grant funding to help give them and the local economy a boost.

North Northamptonshire Council is administering the Discretionary Restart Grant along with a Local Business Hardship Fund.

Eligible businesses have until Wednesday, June 13 to apply for the money.

Rob Harbour, the council’s assistant director for growth and regeneration, said: “The pandemic has been hard for everyone and while the social restrictions have been necessary to halt the spread of the virus some businesses have been hit very hard.

“We would urge any businesses which feel they would be eligible for funding to get in contact. We would emphasise that this is grant funding as opposed to a loan, specially designed to give firms a helping hand to get them back on their feet.

“Small and medium-sized businesses form the backbone of the North Northants economy so it’s essential that we do what we can to ensure we offer them assistance.”

The North Northamptonshire Discretionary Restart Scheme is designed for business who are not eligible for the mandatory Restart Scheme as their business does not have a rateable value.

This includes the following sectors: non-essential retail, hospitality, leisure, accommodation, gyms and sports and personal care.

For properties with a rateable value of £15,000 or under or micro business - up to nine employees - with no rateable value a £2,191 grant is available.

For properties with a rateable value of over £15,000 and below £51,000 or small business - ten to 49 employees - with no rateable value, a £3,286 grant is available.

For properties with a rateable value of £51,000 or over or medium business, 50 to 250 employees, with no rateable value, a £4,928 grant is available.

The Local Business Hardship Fund aims to support local independent businesses which 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.

Priority will then be given to businesses that fall within the following categories, and those that supply for the following: accommodation, charities, creative and cultural, hospitality, leisure and retail and manufacturing.

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.

For more information and to apply please visit the council’s website: https://www.northnorthants.gov.uk/coronavirus-covid-19/discretionary-restart-grant

For more information and to apply visit the council’s website: https://www.northnorthants.gov.uk/coronavirus-covid-19/local-business-hardship-fund