Government support
The Government has outlined some financial support measures within their coronavirus business support package.
The district and borough councils in West Sussex will be administering some elements of the support as follows:
- the business rates holiday for retail, hospitality and leisure businesses
- cash grants for retail, hospitality and leisure businesses with a maximum rateable value of £51,000
- cash grants for businesses already receiving Small Business Rate Relief and/or Rural Rate Relief and who occupy property.
Government announced the Local Authority Discretionary Grants Fund in May to provide additional support for businesses. The fund is designed to offer some support to small businesses that were not eligible for the Small Business Rate Relief, Rural Rate Relief Grant Fund or the Retail, Hospitality and Leisure Grant fund.
Each of the district and borough councils in West Sussex have set out guidance and criteria for their fund. Information can be found by visiting the district and borough councils websites.
Information is available on the district and borough council web sites:
For more information on all the financial schemes and support made available by Government including, who is eligible and how to apply, visit the Government’s Financial Support for Business pages.
The second stage of the Government's Self Employment Income Support Scheme (SEISS) is open for applications. Anyone whose self-employed business has been adversely affected by coronavirus since 14 July is eligible for the scheme.
Coast to Capital LEP & Coast to Capital Growth Hub
Business Recovery Grants
Coast to Capital have launched their 'Business Recovery Grants', a new £2.1 million grant scheme aimed at providing businesses in West Sussex, Brighton & Hove, East Surrey, Croydon and Lewes District with funding of between £10,000 and £170,000.
The programme will provide up to 50% of an expansion project for organisations that can demonstrate a clear link to COVID-19 recovery and growth. In addition, Coast to Capital are looking for businesses to set out plans for job creation an job retention to improve the unemployment rate in the local area.
The fund is now open for expressions of interest from eligible businesses. The application window for the scheme will be open until Friday 18th December 2020.
Financial support and grants are also being provided for individuals, businesses and employers in particular sectors:
The Creative Industries Federation has announced a partnership with Crowdfunder's Pay It Forward scheme. The scheme provides an online platform to enable creative businesses and individuals to pre-sell tickets, products, bookings and services now, to be redeemed later.
The Sustainable Innovation Fund has been announced by Government to help support innovative businesses to bounce back from the impact of coronavirus. The £200 million package is being delivered through Innovate UK and will help companies keep their cutting-edge projects and ideas alive.
DCMS announced a rescue package of £1.57 billion to safegaurd cultural and hertiage organisations across the UK from the economic impact of Covid-19. The Culture Recovery Fund is being distributed by Arts Council England, National Lottery Heritage Fund and The British Film Institute. The schemes run by Arts Coucil England and National Lottery Hertiage Fund have now closed. The scheme run by British Film Institute remains open:
- The British Film Institute - grants for film and cinema. This fund will have two components available: safety grants and business sustainability grants. Applications are open from Mon 10 Aug until Fri 30 October 2020.
Let's Do Business Finance are an accredited delivery partner of the Coronavirus Business Interruption Loan Scheme delivered by British Business Bank to support businesses through the pandemic. Loan amounts are up to £150,000 and businesses must be based in Sussex, Surrey, Kent, Hampshire, Essex, Suffolk, Norfolk, Cambridgeshire or Hertfordshire. This scheme ends of 30 September 2020.
