New business grant fund opens - apply now
Applications opened today (Friday 12th June) for businesses to apply for a discretionary grant after the Government provided £3.4m of extra Government funding for businesses in Hackney.
The new discretionary grant fund is aimed at small businesses who have experienced a significant fall in income due to coronavirus and still face ongoing fixed property-related costs and are not eligible for the existing Government business grant schemes. There will be two levels of grants - up to £10,000 for small businesses and up to £5,000 for micro businesses.
Local authorities have been tasked with developing and administering their own grant programmes and online applications will be live for two weeks until midnight on Friday 26th June.
Businesses in Hackney have been struggling due to coronavirus and while we have welcomed the Government’s previous grant and rate relief schemes, many businesses in the borough have been ineligible for this support and have fallen through the cracks. Which is why the Government has committed a further £3.4million pounds of funding support that businesses in Hackney can now apply for through the discretionary grant fund to help through this difficult period.
Unfortunately the fund will only be able to offer meaningful support to a few hundred businesses and there will be still many who desperately need help. The Council is committed to doing everything it can to support and champion the needs of the business community in the coming months including taking the call to Government for further support in these challenging times
Hackney Council have established the eligibility criteria for the Discretionary Grant Fund and priority business types have been determined based on the Government guidance, Hackney’s local economy and the evidence gathered to date on the impact of coronavirus on local businesses through Hackney Business Network’s business impact monitoring form, direct contact from local businesses and representations from business groups.
For further information on the Discretionary Grant Fund, including eligibility criteria and to access the application form , please visit our dedicated Discretionary Grant Fund webpage
For further news on businesses in Hackney, please visit the Hackney Business Network website.