Current Local and National Business COVID Grant and Support Schemes

The Kent and Medway Growth Hub Team have emailed businesses with a helpful review of the current financial support available for businesses, as below.

I've added some additional information from Folkestone and Hythe District Council on Local Restrictions Support Grant (Closed Businesses) below (in italics).

Local Restrictions Support Grant (Closed Businesses)

• Based on the rateable value of property
• Grants between £1,334 & £3,000
• Businesses that are eligible are those that have been mandated to close by Government and include non-essential retail, leisure, personal care, sports facilities, and hospitality businesses
• Claimed online from Local Authority website

Update from Tim:

Folkestone and Hythe District Council are currently hoping to get the application process for the Local Restrictions Support Grant (Closed Businesses) live by Friday 13th November, but this is subject to alteration. I'll add a link here as soon as its available.

Payments will only be released once the relevant checks have been undertaken. The Government will not accept deliberate manipulation and fraud. Any business caught falsifying its records to gain additional grant money will face prosecution. Any funding so issued will be subject to claw back, as may any grants paid in error. The Council will be carrying out spot checks on businesses that have claimed the grant to ensure they are closed.

Additional Restrictions Grant (Discretionary)

• Local Authorities are developing discretionary grant schemes to help those businesses which -while not legally forced to close -are nonetheless severely impacted by the restrictions put in place to control the spread of Covid-19.
• May not be dependent on occupying a rateable property
• Claimed online from Local Authority website
• Weblinks and criteria likely to take some time to be published

Update from Tim:

Folkestone and Hythe District Council are still working on the criteria and application process for this grant as are other Councils, and there is no firm launch date yet.

Coronavirus Job Retention Scheme (Furlough)

• Return of the previous scheme
• 80% of furloughed staff wages can be claimed
• Claimed through HMRC payroll system
• Open until March 2021 but may be modified

Self Employed Income Support Scheme (SEISS)

• Grant payment to cover 1 st Nov to 31st Jan (3 months)
• 80% of average income for a three-month period, capped at £7,500 in total
• HMRC will communicate with you
• Open until March 2021 but may be modified

Bounce Back Loan "Top-up"

• If you already have a Bounce Back Loan but borrowed less than you were entitled to, from 10 November you can top up your existing loan to your maximum amount. You must request the top-up by 31 January 2021

For help, information, or guidance on any of these schemes, one of the Kent and Medway Growth Hub Team Advisers can help. Call 03333 602 300 for a callback.