The new Discretionary Business Grant Scheme (DBGS)
The Government has established a new discretionary fund of £617 million that has been set up to help some small businesses that were previously outside the scope of the existing business grant funds schemes.
The additional money will be made available via Local Authorities; the exact amounts for each Council area will be announced in w/c 11 May and the allocation of funding will be at the discretion of Local Authorities.
Who will benefit
The DBGS is aimed at small businesses with ongoing fixed property-related costs.
Councils will be asked to prioritise businesses in shared spaces, regular market traders, small charity properties that would meet the criteria for Small Business Rates Relief, and bed and breakfast operators that pay council tax rather than business rates.
In addition, Councils may choose to make payments to other businesses based on local economic needs.
What are the rules?
Businesses must be small (under 50 employees) and they must also be able to demonstrate that they have seen a significant drop in income due to Coronavirus restriction measures.
The three payment levels will be:
1) The maximum grant will be £25,000
2) There will also be grants of £10,000
3) Councils will have discretion to make payments of any amount under £10,000 to suit local circumstances
How do I apply?
We will issue information on how to apply next week when the DBGS goes live.
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