New funding available for Newark and Sherwood businesses affected by Coronavirus

A new fund is available for local businesses who may not have been able to access Coronavirus financial support previously.

Businesses that were not eligible for government funding through previous Covid-19 related financial support packages, including the Small Business Grant Fund or the Retail, Leisure and Hospitality Fund, are being invited to apply to Newark and Sherwood District Council for business support funding through the Discretionary Grant Fund from today. 

The new fund of just under £1.3m is aimed at small and micro businesses that can demonstrate they have suffered a significant fall in income because of Covid-19, have ongoing fixed property-related costs and occupy property or shared office space. 

The additional funding is not eligible for businesses that have already received financial support from previous grants. 

Businesses must have been trading on 11 March 2020 and have so far been considered ineligible for grant support. Businesses will be required to provide supporting information and documentation for verification purposes.

The broad categories of businesses which are eligible, but not exhaustive, include:

• Small businesses in shared offices or other flexible workspaces
• Regular market traders, domiciled in the District
• Bed and breakfast premises which pay council tax instead of business rates 
• Charities in receipt of charitable rate relief, which otherwise would have received Small Business Rate Relief
• Tourism and hospitality 
• Day nurseries

Applications should be made online and will be reviewed and evaluated as quickly as possible. The closing date for applications is Tuesday, June 30 2020 but the date may be brought forward if the total fund is exhausted before this date. 

Leader of Newark and Sherwood District Council, Councillor David Lloyd, commented: “The Discretionary Grant Scheme has been made available to provide much needed financial support to those businesses that have not already received government funding and have been adversely impacted by COVID-19.”

He continued, “We understand that the pandemic has brought many concerns for businesses of all categories and sizes so we urge businesses that have previously not been eligible for financial support through the Small Business Grant and the Retail, Leisure and Hospitality Fund, to apply as soon as possible.”

Businesses can apply for the Discretionary Grant Fund by visiting the Newark and Sherwood District Council website.