The council has created a £2million emergency Business Hardship Fund for smaller businesses significantly affected by the COVID-19 pandemic. Grants of up to £10,000 are available for small businesses based in the borough.
Although the Chancellor has set out an extensive package of business support measures, Southwark Council have received many enquiries from local businesses that are not eligible for the government grants but are in need of urgent help.
This Business Hardship Fund has been established to help these small businesses cover immediate costs where urgent need is identified.
Who can apply?
The Business Hardship Fund is specifically targeted at small businesses that are not eligible for any of the following government support:
- small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
- grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
- Self-employment Income Support Scheme
You may then apply to the Business Hardship Fund if your business satisfies the following criteria:
- is registered and trades in the London Borough of Southwark
- has fewer than 10 full time equivalent employees; and
- is facing financial hardship as a result of the COVID-19 pandemic that affects its ability to continue to trade and threatens permanent closure.
Final decisions on grant amounts will be based on demonstrable need.
More information and details on how to apply can be found on the Southwark Council website.
Business rates instalments would usually be due in April and May, please be assured that if you are unable to pay Southwark Council will not be undertaking any recovery or enforcement activity for unpaid rates at this time. They will keep this under review and encourage businesses to contact them at an appropriate time to revise payment terms.