Hounslow Council launches discretionary business fund to support small and microbusinesses in the borough
The new Discretionary Business Support Grant is intended to aide those businesses who have so far not been able to benefit from funding from central government during the coronavirus pandemic.
The application process for the fund will go live during week commencing 8 June, via an application form on the council’s website.
In order to qualify businesses must meet a set of criteria designed to target the funding at businesses who have suffered the greatest loss of income as a result of Covid-19. Hounslow has been awarded £1.8m and will be distributing grants of £25,000, £10,000 and £5,000 depending on businesses property costs, this will provide support to an estimated 200 businesses.
Full details of the scheme and the criteria required are provided in the Discretionary Business Support Grant Policy May 2020 which is available on the council’s website at: https://www.hounslow.gov.uk/info/20070/business/2166/discretionary_business_support_grant
The scheme is being publicised from today, Monday 1 June, in order to give small and microbusinesses the opportunity to understand and consider the qualifying criteria, and sign up to the Covid-19 Business Recovery enewsletter so that they can be given priority notification when the application process has gone live. The scheme is planned to go live as soon as possible during week commencing 8 June. Once applications have been received and verified, grants will be awarded until the put of funding has been exhausted, and it is intended that payments to successful applicants will be delivered by the end of June.
Councillor Shantanu Rajawat, Cabinet Member for Finance and Corporate Services, said:
“We are pleased to be able to offer this grant to those small and microbusinesses in our borough that need the most help, as they have missed out on other funding provided by central government so far. Sadly, £1.8m, whilst it sounds a lot, will fall woefully short of the funding we really need to help all the small and microbusinesses in the borough struggling as a result of the Covid-19 pandemic, and we will continue to put pressure on central government to meet their promise to pay for the full cost caused by the pandemic and help all small businesses continue to trade.
“As the pot of funding we have been given will not be sufficient for all businesses in the borough, applications for the grant will be considered on a first come first served basis. As a result, we are publishing the information, including the criteria that need to be met, on our website from today. I would urge all small and microbusiness to check the criteria, and sign up to our enewsletter before 8 June, so that they can be ready to apply as soon as they receive the email notification from us that the application process is live.”
For details of the scheme please visit this webpage:
To sign up for the enewsletter to receive notification that applications have gone live visit this page:
Hounslow Council is anticipating a high level of interest in this grant scheme but unfortunately but is unable to provide further guidance beyond the eligibility criteria already published. This decision has been taken so as not to prejudice the applications evaluation process.