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In response to COVID-19, the government announced there would be support for small businesses, and businesses in the retail, hospitality and leisure sectors, delivered through the Small Business Grant Fund and the Retail Hospitality and Leisure Grant Fund.
The Local Authority Discretionary Grants Fund is an additional scheme aimed at small and micro businesses who were not eligible for the Small Business Grant Fund or the Retail, Hospitality and Leisure Grant Fund.
The administration of the Discretionary Fund within Fareham is being managed by the Council.
We will receive £1,019,000.
Grants will be allocated on a sliding scale up to £10,000 depending on various criteria including each business's monthly fixed overheads (see below).
Businesses with fewer than 50 Full Time Equivalent (FTEs) employees, including the owner(s) and either:
Balance sheet total is defined in the Finance Act 2016 as the aggregate of the amounts shown as assets in a company's balance sheet at the end of the financial year.
Your application will still be considered. You would still need to submit your last set of accounts, and in the application form there is a section for you to explain why this difference exists. We would also suggest you submit supporting evidence e.g. management accounts/letter from you accountant.
It depends on the support you've received. You are still eligible if your business received the following:
Your business won't be eligible for the Discretionary Fund if it has received or is eligible for any of the following:
If you apply and we think your business would be eligible for any of the funds above, we will reject your Discretionary Fund application and direct you to apply for the scheme relevant to your business.
In the original guidance from central government this was a specific criteria for exclusion from this scheme. However, they later revised the guidance so that it no longer was. Our policy has been updated to reflect this change.
To be eligible for Fareham's Discretionary Fund a business must:
You will not be eligible for this grant. Central government have stipulated this as a mandatory criteria, and no local discretion can be used.
You will not be eligible for this grant. Central government have stipulated this as a mandatory criteria, and no local discretion can be used.
Yes, as long as:
If deemed eligible, you will be assessed on the percentage of the overheads that relate to the Bed and Breakfast Business.
This grant is aimed at small and micro businesses. Occupying a property with a rateable value of £51,000 or above is one of the exclusion criteria.
You would not be eligible for this grant.
All fixed overheads relating to properties used for the business will be taking into account, as long as the property is not eligible for any of the grants listed previously.
The first round of applications ran between 2 June and 16 June 2020. The second round closed on 28 August 2020.
Yes, in order to process your application, you will need to provide the following documents:
We may contact you by email asking for further evidence once your application has been assessed.
Yes, you will receive a confirmation email with a 13-digit unique reference. This reference is to be used in all correspondence relating to your application.
We are anticipating a large number of applications to the Discretionary Fund. We have allocated additional resources to process them as quickly as possible, however we are unable to give an accurate anticipated turnaround at this time.
We will contact you via email to inform you. We will direct you to apply for alternative grant schemes such as the Small Business or the Retail, Hospitality and Leisure Grant Fund if it appears you may be eligible.
Each Council will have a different set of criteria based on local needs, circumstances and funding provided. It is expected that there will be differences across the country.
You can contact the Business Rates Team on 01329 824651 or by email to businessrates@fareham.gov.uk.
No, there are no appeals rights for the Discretionary Fund.
Grants will be given on a sliding scale, in line with the monthly fixed overheads of the business incurred during April to June 2020.
Fixed Monthly Overheads | Grant |
---|---|
£750 or below | Up to £2,500 |
£751 to 1,500 | £5,000 |
£1,501 to £2,500 | £7,500 |
£2,501 or above | £10,000 |
Fixed monthly overheads include business rates or council tax (for B&Bs only), rent, business mortgage or loan interest payments, electricity, gas, water, oil and business insurance. You will need to provide evidence for each.
Payment will be made via BACS.
Yes.
Our analysis of businesses in Fareham suggest that this grant scheme will be over-subscribed. A decision was made to cap our grant at £10,000 to enable us to provide financial support to many more businesses. Government guidelines support this decision, and many Local Authorities have adopted the same/similar stances.
What happens if the Discretionary Fund is oversubscribed?
If the number of applications exceeds the £1,019,000 allocated to Fareham by the Government, the Council will allocate awards to businesses on a priority basis.
If oversubscribed, we will prioritise the following:
A further round of applications may be offered if, following the first round of applications, the funding has not been fully utilised, until the funding limit is reached.
You can check your last Business Rates bill or use the Government's online checking tool .
You can read the Council's agreed Local Authority Discretionary Grants Fund (LADGF) scheme here or the Government's own draft Discretionary Fund Guidance .