£1.6 million of grant funding available for Huntingdonshire buinessess

Grant aid for small firms is extended in Huntingdonshire. Picture: ARCHANT

Grant aid for small firms is extended in Huntingdonshire. Picture: ARCHANT - Credit: Archant

Huntingdonshire District Council is administering a £1.6 million Governement fund to support local businesses.

The Local Authority Discretionary Grant Funding scheme will provide one-off payments ranging from £3,000 to £10,000 and businesses within Huntingdonshire are eligible to apply.

The scheme is designed for businesses that have not yet been able to access Government funding and is predominantly aimed at supporting small businesses and micro-businesses with fixed costs or businesses that are crucial to the local economy.

Executive leader of HDC, councillor Ryan Fuller, said: “We have been strong in our support for local businesses and in support of our local economy.

“There is a great number of small businesses and organisations within our district that play a vital role in the very make up of the local economy that, up until this point, have yet to be able to access Government funding.

“We want to ensure that they are given the opportunity to access funds that other businesses have had the chance to take up.”

The Government has set out four categories of businesses to be prioritised for the Discretionary Grant funding scheme:

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The first is small businesses in shared offices or other flexible workspaces.

Examples of this could include units in industrial parks, science parks and incubators which do not have their own business rates assessment.

The second is regular market traders with fixed building costs, such as rent, who do not have their own business rates assessment.

The third is Bed & Breakfasts which pay Council Tax instead of business rates and charity properties in receipt of charitable business rates relief which would otherwise have been eligible for Small Business Rates Relief or Rural Rate Relief.

Cllr Fuller said: “The Discretionary Grants Scheme can offer an essential helping hand for small businesses and we are aware of how speed of delivery is required for this scheme.

“We will be working to ensure that the funds are distributed to eligible businesses as quickly as possible, through a carefully designed applications system.

“We have already paid out over £27m to more than 2,150 local businesses and we will continue to support our business sector throughout the COVID-19 pandemic response.”

To find out more visit:- https://www.huntingdonshire.gov.uk/business/business-rates/reductions-reliefs-and-exemptions/discretionary-business-grant-scheme/

Huntingdonshire District Council has also set up an online hub to give the latest advice, information and guidance for employers and business owners.

To find out more visit:- https://www.wearehuntingdonshire.org/business/