The RYA understand that Government has written to local councils, informing them that applications for the Small Business Grant Fund; Retail, Hospitality and Leisure Business Grant Fund; and the Local Authority Discretionary Grant Fund will close on 28 August 2020.
The Local Government Association’s (LGA) analysis suggests that approximately £1.37 billion could revert to the Government if the schemes close later this month. The RYA is encouraging affiliated clubs and recognised training centres (RTCs) that have not already submitted an application for any of the applicable grant funding schemes to do so directly.
The LGA is urging Government to keep the Local Discretionary Grant Fund scheme open to allow councils to support as many businesses as possible and to redistribute any unspent resources from the other two schemes. The Local Authority Discretionary Grant Fund, which was launched in May this year, allows councils to award grants of up to £25,000 to businesses that have previously been ineligible for other financial support.
Mandy Peters, RYA Legal Manager, said, “The financial upheaval caused by the Coronavirus pandemic has far from diminished for the majority of our affiliated clubs and RTCs. Many of our clubs are managed by volunteers and part-time members of staff, some of whom may have been furloughed from their positions resulting in a delay in submitting a claim.
“We would like to urge all clubs and RTCs that have not applied for one of the three Government grants, and are applicable, to do so as a matter of urgency.”
For more information about all the financial support packages available to UK businesses and self-employed individuals, please take a look at the Coronavirus Hub on the RYA website. Club Commodores and Training Centre Principals are also encouraged to check out the RYA Coronavirus (COVID-19) FAQs for Affiliated Clubs, Classes and Recognised Training Centres for detailed support and guidance.
If your business requires any assistance with applying for business loans or grants please contact the Legal team via email email@example.com or call 023 8060 4223.