ANNOUNCEMENT 01 Apr 2020

On 1 April 2020, the government of the United Kingdom announced introducing the Coronavirus Small Business Grant Fund (SBFG) for small and rural businesses in England.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

UK Department for Business, Energy & Industrial Strategy, Business Finance and Support, Guidance, “Check if you're eligible for the coronavirus Small Business Grant Fund”. Available at: https://www.gov.uk/guidance/check-if-youre-eligible-for-the-coronavirus-small-business-grant-fund

UK Department for Business, Energy & Industrial Strategy, Business Finance and Support, Transparency Data, “Coronavirus grant funding: local authority payments to small and medium businesses”. Available at: https://www.gov.uk/government/publications/coronavirus-grant-funding-local-authority-payments-to-small-and-medium-businesses

UK Department for Business, Energy & Industrial Strategy, Business Finance and Support, Guidance, “Coronavirus (COVID-19): business support grant funding - guidance for local authorities”. Available at: https://www.gov.uk/government/publications/coronavirus-covid-19-guidance-on-business-support-grant-funding

Inception date: 01 Apr 2020 | Removal date: open ended

Financial grant

On 1 April 2020, the government of the United Kingdom announced introducing the Coronavirus Small Business Grant Fund (SBFG) for small and rural businesses in England. SBFG aims to support businesses with their business costs during the coronavirus pandemic. For this purpose, eligible businesses will be provided a one-off cash grant of GBP 10 thousand (USD 12.4 thousand). 

SBFG applies to businesses occupying property in England. Businesses occupying more than one property can get one grant per property.

SBGF is delivered through local authorities. Businesses that receive grants from SBGF cannot get grants from the Retail, Hospitality and Leisure Grant Fund (RHLGF), which is another fund delivered by local authorities (see related state act).

As of 12 July 2020, GBP 10.7 billion (USD 13.5 billion) has been paid out under SBFG and RHLGF schemes.

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