Tag Archive for: Funding

New Financial Business Support for Coronavirus

 

The Government has announced additional support schemes for businesses most recently impacted by Coronavirus, which include:

  • One-off grants of up to £6,000 for businesses in the hospitality and leisure sectors
  • Covid-19 Additional Relief Fund (CARF) for businesses affected by the pandemic but that are ineligible for existing support linked to business rates
  • Reintroduction of the Statutory Sick Pay Rebate Scheme (SSPRS) for businesses with fewer than 250 employees, up to two weeks per employee
  • Discretionary funding will also be made available to support other businesses

Funding and grants will be administered by Merton Council. Information is available on their website, with additional details to be announced in the upcoming weeks here.

We know this is yet another difficult time for businesses, in what should otherwise be a robust trading period. Love Wimbledon is supporting the ‘Business Booster Campaign‘, calling on central Government to provide: business rates relief, an extension to VAT reduction and additional grants up to £15K for retail, hospitality and leisure businesses.

Please do get in touch with the Love Wimbledon team if we can assist you in any way.

Mayor of London Launches
Back To Business Fund

Back to Business Fund Pay It Forward

 

The Mayor of London has launched a £1m Back to Business Fund, match funding up to £5,000 for small and independent businesses through the Pay It Forward London crowdfunding platform. The funding is intended to help businesses expand their operation online, invest in the future and adapt to safe, socially distant practices in sectors that rely on physical trading, including retail, hospitality, leisure, tourism, travel, creative and arts, entertainment and recreation, and health and fitness.

To be eligible, your business will need a crowdfunding project on Pay It Forward London and reach 25% of your campaign target. Once 100% of your target is reached, the funding is released, up to £5,000 – or 50% of your campaign target.

For more details about eligibility, to set-up a project and to apply click here.

Merton Discretionary Grant Fund Scheme Opens for Applications

 

Small and micro businesses with ongoing fixed property costs may be eligible for a grant from the Discretionary Grants Scheme if they were not eligible for the Small Business Grant Fund or the Retail, Hospitality and Leisure Grant Fund.

This fund is significantly smaller than the previous coronavirus related grants and will only be available to support a small number of businesses in Merton.

Merton Council will administer the scheme in two phases and the deadline for phase 1 applications is 5pm on 24 June 2020.

 

For more information about eligibility and to apply, CLICK HERE 

We are hosting a webinar, 16th June 10-11am,  to assist businesses with understanding the qualifying criteria, in partnership with Merton Chamber of Commerce and Merton Council. Register for the webinar here.

Government Announces BID Resilience Fund

Wimbledon Town Centre - Centre Court

 

A BID Resilience Fund has been announced by government to assist Business Improvement Districts (BIDs) in recognition of the importance of BIDs in supporting businesses through Covid-19 and the vital role we will play in recovery. We are looking forward to understanding the detail of the grant, and we appreciate Stephen Hammond MP’s support in lobbying for this to ensure that Love Wimbledon is able to lead from crisis to recovery.

High Streets Minister Simon Clarke MP said:

“BIDs are uniquely placed and have a proven track record of success in supporting local businesses, empowering communities, championing our town centres and driving forward the renewal of our high streets.  It’s only right that during these unprecedented times we give them all the necessary support they need to continue operating, so that they can carry on their vital work now and crucially when we move into the recovery phase from the current crisis.”

Helen Clark Bell, Chief Executive of Love Wimbledon BID said:

“We are using our networks and partnerships to provide co-ordination and support to Wimbledon Town Centre businesses. We have been lobbying for our businesses that have found themselves ineligible for funding, whilst supporting Merton Council to release those funds promptly to those that are eligible. This fund is particularly welcome at this juncture to enable us to continue this support and lead the town into recovery in a safe and responsible way.”

Read the press release here.