Elected Mayor urges eligible Watford businesses to apply for new discretionary business grant
Watford Borough Council is encouraging local businesses to check whether they are eligible for a new government funding pot designed to help small businesses impacted by COVID-19 who weren’t able to apply for earlier grant schemes.
This new grant is discretionary, so each council in the country has designed how they will allocate the funding to best meet the needs of businesses in their area. However, the grant is geared specifically at helping small businesses in shared offices or work spaces that don’t have their own business rate assessments, regular market traders who don’t have their own business rates assessment, Bed & Breakfasts that pay council tax and charity properties in receipt of charitable business rates relief.
Businesses must also have fewer than 50 employees, been trading on or before 11 March 2020 and show they have had a substantial fall in income due to the COVID-19 crisis.
Elected Mayor of Watford Peter Taylor commented “Our small businesses are the lifeblood of Watford’s economy, providing thousands of jobs for local people and making a vital contribution to the success of our town. We know how difficult the last two months have been for many of these businesses and I would urge anyone who thinks they meet the criteria to apply for this funding. Our team is working flat out to process applications and to make decisions quickly so the money gets to local businesses”.
To ensure that as many businesses as possible will benefit from the funding, the council has capped the grant at £5,000. The first wave of applications closes on 19 June and businesses will be notified shortly after as to whether they have been successful.
For full details of the scheme, please visit the council’s website at my.watford.gov.uk/service/COVID_19___Discretionary_Grant_Fund