From RBKC’s Economic Development Team

We have now launched a COVID-19 Business Interruption Fund to support RBKC businesses and self-employed that fall through the gaps of the various measures announced by Government. This discretionary fund has a link on the Council's RBKC COVID 19 BUSINESS PORTAL, Details below.

The Council has set up a fund which will allow smaller, private enterprises in the borough, with either fewer than 20 employees or a turnover of less than £2 million, access to a grant of up to £5,000. This emergency fund is only open to those who have experienced disruption to trading and income due to the Coronavirus and have not been able to source working capital from any other Government support scheme to cover essential business costs.

We will also expect any applicant to demonstrate what they’ve done to mitigate the various impacts themselves which is not just other Government schemes.

 To Apply for the Business Interruption Fund, businesses will need one of the following documents:

A copy of the business' accounts

A copy of your tax self-assessment for the previous two years

If started recently, a copy of your most recent management accounts or trading summary showing turnover figures.

Businesses will also need:

A copy of the most recent bank statement for your business, showing the name, address and account details (we need this to be able to pay any grant awarded to you) - the transaction details can be redacted.

One form of identity documentation for the named applicant (driver's licence, passport).

 Small but important note:  The size of the fund is £500,000.  That would for example provide 100 successful applicants with maximum £5k.