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More help available for small businesses in Ealing

More help available for small businesses in Ealing

funding for small businesses

Market traders, businesses working in shared workspaces, and those in the creative, arts, and digital sectors are among the types of organisations who can apply for grants of up to £10,000 as part of Ealing’s second round of discretionary grant funding.

For the second round of funding, businesses will need to have a minimum annual turnover of £50,000 and be able to demonstrate that they have suffered a fall in income of at least 25% due to the Covid-19 crisis.

Following feedback from the first application round, the requirement to prove financial hardship has been simplified for this second round with businesses only required to provide two bank statements from a specified time period.

Businesses do not need to be registered in the London Borough of Ealing but must have a principle trading address in the borough. 

The government’s discretionary grant fund aims to aid small businesses which fell outside the scope of previous business grant schemes or who pay their business rates indirectly as part of their rent.

Ealing Council has £3million in top-up funding from the government to distribute in grants of up to £10,000 to qualifying business.

The first round of the scheme was launched at the end of June and applications for the second round will be accepted online until 11pm, Thursday, 6 August.

As with round one, businesses that have already received funding from either the government’s Covid-19 related grant schemes or Ealing Council’s Covid-19 Emergency fund will not be eligible.

Grants will be awarded to eligible businesses or organisations on a ‘first come, first served’ basis.

Councillor Jasbir Anand, cabinet member for business and community services, said: “We are pleased to be able to open a second round of funding to support the many small businesses in Ealing.

“We know how vital this funding will be and we don’t want anyone to miss out. I urge those business who have not previously received funding to check if they are eligible in this second round and apply today so that we can support you.”

“We know that many of our small businesses are facing a financial crisis and we hope that this funding will go some way to ease the financial burden that you are facing.” said Councillor Bassam Mahfouz, cabinet member for finance and leisure, “If you think you may be eligible, please act quickly and complete the application form on our website.”

For further details and to apply for funding visit www.ealing.gov.uk/discretionarygrants