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Small and micro businesses receive a life line

Published on:

24 June 2020

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Hundreds of small and micro businesses will be supported by fresh funding amounting to £2.2 million, to be made available by Enfield Council. 

Hundreds of small and micro businesses will be supported by fresh funding amounting to £2.2 million, to be made available by Enfield Council.

The funds will safeguard the financial futures of many businesses and families in the borough.

The support aims to help those who have not received a cash grant from an existing central government COVID-related business scheme. The focus is on Enfield businesses which contribute to the vibrancy of the high-street, support the local economy and those which employ residents.

Using the government Discretionary Grant Fund, Enfield Council will make available grants worth £25,000, £10,000 or any value under £10,000 to businesses who reach a number of qualifying criteria. These will be available to those not eligible for the Small Business Grant Fund or the Retail, Leisure and Hospitality Fund.

Enfield Council’s Leader, Cllr Nesil Caliskan, said: “The Council has worked hard to make sure that no-one gets left behind as the economy slowly starts to open up and lockdown eases. We have therefore agreed that those eligible should include businesses that support the local economy, employ residents and form an important part of our town centres and high streets.”

The Cabinet Member for Finance & Procurement, Cllr Mary Maguire, said: “These businesses, many of which are run by families who live locally, are the backbone of our communities. They often supply much needed products and services but in many circumstances are the most threatened by the impact of the COVID-19 pandemic. These grants will therefore provide a lifeline to help those who have missed out on support. This already builds on the significant work we have undertaken to support businesses and protect jobs in Enfield.”

So far, Enfield Council has applied for £46 million of business rate relief, distributed £41.6 million of business rate grants and secured free registration and discounted membership to the Federation of Small Businesses.

The Council has also launched an online marketplace with ShopAppy.com which will support Enfield business to sell their products widely across the borough. Find out more here.

In the meantime, Enfield Council has been making town centres and high streets safe and accessible so the local economy can thrive again.

To access the Fund, businesses are invited to complete an application process which will be used to assess eligibility. For more information and to start the application, please refer to www.enfield.gov.uk/covid19businesses and click on the Discretionary Grant Fund tab.

Cllr Maguire added: “There is likely to be a huge demand for help. Although we will do all we can, there is likely to be more demand for funding than is available. As a result, Enfield Council will continue to lobby for more government support to local businesses yet to receive the help they need.”