Since April, Cambridge City Council has paid out nearly £22 million of grants to 1,450 local small businesses in Cambridge who have been in receipt of small business rate relief or expanded retail discount (for those in the retail, hospitality and leisure sectors).
Eligible businesses in the city who have not already made a claim could secure a payment of £10,000 or more, but they need to complete the relevant validation form by the end of Friday 28 August via www.cambridge.gov.uk/coronavirus-small-business-grant-scheme.
In late May, the government allocated a further £1.1 million in discretionary grants for the city council to award to others who were trading in March when the pandemic was declared and who have missed out on the earlier grants.
Taking the types of business prioritised by the government as its starting point, the city council has tailored the local scheme so that it is now aimed at:
- Small businesses paying business rates in Cambridge (with a rateable value greater than £15,000 but below £51,000) which are in the cultural and creative or technology sectors or in medical services or language schools;
- Any micro or small business not paying business rates but renting shared/serviced premises in Cambridge (with an annual rent below £51,000); and
- Charities and not-for-profit organisations in Cambridge with either an annual rent or rateable value below £51,000.
Since early June, the city council has allocated almost £1 million in discretionary grants of between £1000 to £10,000 to over 210 recipients. Around £110,000 is left available for eligible applications. This is likely to be snapped up, so it is possible that the local scheme may need to close before its Friday, 5pm deadline. More details are available on the council’s website: www.cambridge.gov.uk/coronavirus-discretionary-grant-fund.
Cllr Richard Robertson, Executive Councillor for Finance and Resources, said: “Any local small business, charity or not-for-profit organisation which has lost income during the coronavirus needs to act fast to apply for a discretionary grant. It is easy to apply and applications are assessed quickly.”