Additional Covid-19 funding has been introduced that is applicable to those in shared or flexible workspace.
The government’s existing Small Business Grant Fund, introduced to support small businesses affected by Covid-19, was only given to businesses eligible for Small Business Rates relief. This excluded companies in serviced offices that do not have their own rates assessment.
To plug this gap additional funding has been introduced, known as the Local Authority Discretionary Grants Fund. The government has specified that ‘small businesses in shared offices or other flexible workspaces’ are a target group for this funding.
The government has only yesterday issued guidance to local authorities on how to distribute the funding, but if you think you may be eligible it would be a good idea to try to contact your local authority or at least monitor the relevant sections on their website so as to get your application in when possible.
Some local authorities have stated the fund is ‘unlikely to meet local demand’ so it is certainly a good idea to get applications in early.