Over £2.5m of discretionary grants paid to local businesses as second round opens

Nottingham from above

Over 300 businesses have received a discretionary business support grant from Nottingham City Council to support small businesses in the city.

Grants of £2,500, £5,000 and £10,000 have been paid out by the Nottingham City Council Economic Recovery Unit to eligible businesses, such as those in shared or flexible workspaces, market and street traders, charities and other businesses with a rateable value between £15,000-£51,000 who have been forced to close or reduce trade due to COVID-19.

The grants paid to date have supported over 300 businesses in shared premises, including from BioCity and the University of Nottingham’s small business incubator spaces, as well as around 60 market traders and 70 charities, supporting over 4,000 jobs.

These businesses were ineligible for previous grant support from Central Government, and following lobbying by Nottingham City Council and other cities, the Treasury allocated £617 million to local councils across the country to meet the need of businesses excluded from Central Government schemes.

The City Council is today has opened a second round of grants to eligible businesses. The deadline for applications is Friday 3 July and eligible businesses can apply here.

Councillor Sam Webster, Portfolio Holder for Finance, Growth and the City Centre, said: “We’re pleased to have so far been able to support around 500 local businesses, charities and market traders, protecting jobs and the city’s innovators with a grant scheme we lobbied so hard for. We were the first Council in the country to lobby Government to provide support for those small employers who had missed out on the first business support scheme.

“Everyone has felt the impact of this pandemic, it’s important that our small businesses, charities and market traders are financially supported and have the practical help and advice that they need at this time. We’re especially pleased that this grant allowed us to outline local criteria, supporting market traders, co-operatives and charities alongside those in shared office spaces and others who were excluded from previous schemes.

“We are determined that the remaining grant goes to support those who need it – every penny of our allocation will be paid out and as part of the Nottingham Economic Recovery Unit we’ll work to protect as many jobs as possible.

“We’ve already lobbied Government about the need now for recovery grants as many businesses go through a period of uncertainty. The Council will continue to make the case at the national level for our local businesses.”

Share this post!