Small businesses are the backbone of the UK economy, and to support them, the UK government has introduced various grants and schemes. Here are the grants available:
Restart Grant
The Restart Grant is designed to help businesses reopen safely after the COVID-19 pandemic. The grant provides funding to eligible businesses to help them adapt to the post-pandemic economy.
Eligibility criteria for the Restart Grant:
- Your business must be based in England
- Your business must be rate-paying
- Your business must have been trading on April 1, 2021
- Your business must have been impacted by the COVID-19 pandemic
Amount that can be received:
- Non-essential retail businesses can receive up to £6,000
- Hospitality, accommodation, leisure, personal care, and gym businesses can receive up to £18,000
How to apply:
- You can apply for the Restart Grant on your local council’s website. You will need to provide evidence of your eligibility, such as your business rates account number and bank account details.
Small Business Grant Fund
The Small Business Grant Fund is a government grant that provides a one-time grant of £10,000 to small businesses that pay little or no business rates. The grant is intended to help businesses meet their ongoing costs during the COVID-19 pandemic.
Eligibility criteria for the Small Business Grant Fund:
- Your business must be based in England
- Your business must be a small business that pays little or no business rates
- Your business must have been trading on March 11, 2020
Amount that can be received:
- A one-time grant of £10,000
How to apply:
- You do not need to apply for the Small Business Grant Fund. Your local authority will contact you if you are eligible and provide instructions on how to claim the grant.
Additional Restrictions Grant (ARG)
The Additional Restrictions Grant (ARG) is designed to support businesses that have been impacted by COVID-19 restrictions. The grant is intended for businesses that are not eligible for other COVID-19-related grants, such as the Restart Grant.
Eligibility criteria for the Additional Restrictions Grant:
- Your business must be based in England
- Your business must have been trading on April 1, 2021
- Your business must have been impacted by COVID-19 restrictions
- Your business must not be eligible for other COVID-19-related grants
The amount that can be received:
- The amount received will vary depending on the local authority administering the grant
How to apply:
- You can apply for the Additional Restrictions Grant on your local council’s website. You will need to provide evidence of your eligibility, such as financial statements and bank account details.
Recovery Loan Scheme
The Recovery Loan Scheme provides financial support to businesses that have been impacted by the COVID-19 pandemic. The scheme is designed to help businesses access the finance they need to recover and grow.
Eligibility criteria for the Recovery Loan Scheme:
- Your business must be based in the UK
- Your business must have been impacted by the COVID-19 pandemic
- Your business must be able to afford the repayments on the loan
Amount that can be received:
- Loans and overdrafts between £25,001 and £10 million are available
How to apply:
- You can apply for the Recovery Loan Scheme through a participating lender. You will need to provide evidence of your eligibility, such as your business plan and financial statements.