Government issues promised guidance to Local Authorities regarding the Local Authority Discretionary Grants Fund, aimed at helping small and microbusinesses that were not eligible for previous grant funding.
The practical help we, as accountants, are giving to support our clients today, and how we plan to keep on helping them in the future.
Local Authority discretionary Grant Funding for SMEs may be available from your Local Authority following a Top Up of grant funding by the government. If your business employs less than 50 people and has seen a significant drop in income due to Coronavirus restriction measures but did not qualify for the Small Business Grant Fund or the Retail, Hospitality & Leisure Grant Fund, help could be on the way.
So far SMEs have only received just under 50% of the grant funding allocated by the government through the SMB & RHL grant funds. The average across Derbyshire is 48%. If you have not heard from your Local Authority, get in touch with them.
Managing cashflow is crucial to SMEs. We look at the things you should be doing right now to manage your cashflow.