Watford Borough Council is to offer much-needed support for local businesses, with extensions to two of its financial assistance grants.
The Home Business Support Grant and the Additional Restrictions Grant are open to businesses that have been negatively impacted by the COVID-19 pandemic, but who do not meet the criteria for other means of financial support – such as the Local Restrictions Support Grant or the Restart Grant.
The Home Business Support Grant is open to home-based businesses that were required to close during the most recent period of restrictions, those that supply to the retail, hospitality and leisure sectors, and who have experienced financial difficulties due to lockdown.
Those eligible will receive a cash grant equivalent of £500 for the five month period between December 2020 and April 2021.
The Additional Restrictions Grant is available to non-business-rate paying businesses who would have otherwise been eligible for the Local Restrictions Support Grant, but have fixed rental costs for business premises and those paying business rates that supply to the retail, hospitality and leisure sectors.
Recipients of the grant may be awarded between £1,000 and £3,000.
Companies that have already applied for either one of the grants do not need to reapply – they will automatically receive a top-up cash payment, so long as they have been receiving regular payments and continue to meet eligibility criteria.
Elected Mayor of Watford, Peter Taylor, welcomed the grants, saying: “We recognise how critical local businesses are to Watford’s economy and character, and want to support them in any way that we can.
“That’s why we’re delighted to extend the two grants, to help alleviate some of the pressure that the pandemic has placed on our business community, and give them a strong start as they emerge from lockdown. We hope all eligible businesses will apply.”
Applications are open from May 6 until May 26, 2021.