More financial support for small businesses to help keep them afloat

Published: Tuesday, March 30, 2021

Many small businesses across the borough are being urged to check if they are eligible for additional financial support from the council.

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Your business could be eligible for cash support

The council has an Additional Restrictions Grant (ARG) which has so far paid out nearly three million pounds to just under 500 local businesses whose trade has suffered during lockdown.

Local businesses are being urged to apply even if they are not sure they qualify. It is believed that many may be eligible for this help but have not yet applied.

Businesses can claim if they fall under any of the following criteria:

• Any business which has not received grants or reliefs from earlier grant schemes can apply for a one-off grant of up to £10,000 per eligible property (amount awarded depends on rateable value or annual property-related business costs).

• Or businesses that received a discretionary business fund grant (DBF) last year can claim a one-off top up of £5,000.

• Or any business which was not required by law to close during the government’s Tier restrictions or lockdown can apply for grants of up to £1,050 per fortnight starting from 17 October 2020 (amount awarded depends of rateable value or annual property-related business costs).

• Or businesses operating from home, as long they are incurring significant non-property related business costs.

Businesses may be eligible under more than one category so those that didn’t receive a DBF last year may be eligible under sections 1 and 3. Those that did get a DBF last year may be eligible under section 2 and 3. The council will determine this when assessing applications.

A council spokesman said: “This is a pot of cash that’s available to support Wandsworth businesses and help keep them afloat. There is no deadline for this funding but there is a fixed amount of money available so we are encouraging businesses to apply as quickly as possible.

“If businesses are unsure whether they qualify they should contact us and we can advise them or alternatively they can make an application anyway and we will assess it.”

For advice and guidance call (020) 8871 6454 or email businessgrowth@richmondandwandsworth.gov.uk
To make an application please visit www.wandsworth.gov.uk/business-grants