Issue - meetings

(voting: unanimous in favour)

The Portfolio Holder for Economic Development advised that the Government had introduced a number of grants to businesses as a result of the COVID pandemic which SSDC had dispersed.  He said there were non-discretionary grants which SSDC passed on to businesses and also discretionary grants where judgement was applied and it was necessary to have clear governance of the process.

The Specialist for Economic Development advised that the additional restrictions grant commenced in November 2020 and did not cover the grant funding awarded in the first COVID lockdown period or the grants for businesses required to close in November 2020.  SSDC had provided the grant funding to businesses as quickly as possible throughout the pandemic and the report requested the delegated authority allocate the remaining Additional Restrictions Grant funding to ensure the funding was allocated appropriately to allow businesses to recover and grow. There were a number of example schemes listed in the report and the split of grant funding and business support initiatives was likely to be around 75% / 25%.. The grant funding had not been underspent as final top-up funding could not be claimed until the Additional Restrictions Grant was fully spent.  There was approximately £1m left in the allocation to be spent before March 2022.

In response to questions, the Specialist for Economy advised:

·         The grant funding had to be allocated by the end of March 2022.

·         The grants would be publicised through the Council’s website.

·         The scheme would be open to business who had already received grant funding.

·         Businesses who did not pay business rates would be eligible for the additional restrictions grant.

At the conclusion of the debate, Members unanimously agreed the recommendations for approval.

(voting: unanimous in favour)