OLDHAM Council has launched a new £500,000 funding pot to support businesses that are struggling to pay ongoing commercial property costs as a result of the pandemic.
One-off grants of £5,500, £8,000 and £12,000 are available to eligible businesses that have suffered a significant and substantial negative impact on trading as a result of Covid-19, compared to previous levels of trading pre-pandemic.
The Wider Business Grant will support operational costs and overheads, with priority given to businesses with a high economic impact (jobs) and commercial property costs.
Cllr Abdul Jabbar, Deputy Leader and Cabinet Member for Finance and Green, said: “We continue to listen to the business community, launching grant schemes which respond to their needs.
“The Wider Business Grant aims to do just that – help a wider number of businesses that so far have been unable to access grant funding.
“It is for businesses across Oldham, in any sector who meet the criteria, and will safeguard important local businesses and jobs for the future.
“If you think your business could be eligible, please apply so we can support you at this really difficult time.”
The scheme is part of the Additional Restrictions Grant which has supported a number of local grant schemes to date including Supply Chain Grants, Self Employed Grants and grants for businesses who don’t pay business rates but have been legally required to close.
To qualify for the Wider Business Grant, you must not have received any other Additional Restrictions Grant funding.
Businesses applying for the grant must also evidence a loss of at least 30% in income and ongoing commercial property costs.
Businesses liable for Business Rates could receive one-off grants based on their Rateable Value (RV):
- RV less than £15k: £5,500 grant
- RV £15,001 – £51,000: £8,000 grant
- RV >£51k: £12,000 grant
Businesses that are not registered for Business Rates will qualify for a payment of £5,500.
For more information and to apply visit www.oldham.gov.uk/widerbusinessgrant