Bed & Breakfast Hardship Fund
Who is eligible?
Your business can apply if you can show business related revenue & expenditure running through your personal bank account.
You will be required to sign a declaration confirming that you meet all of the following criteria:
- Membership, accreditation, registration or simple listing with a recognised hospitality or tourism agency, representative body or marketing organisation (national or local) prior to March 2020
- At least 35% of individual income is from affected business
- Trading profits below £50,000 in the financial year 2019-2020
- Can provide evidence of active trading up to March 2020 and intend to continue trading in the tax year 2020-21
- Have been in business for at least a year and filed trading accounts for 2018-2019
- Have lost or anticipate losing business this year due to coronavirus and are experiencing or anticipating financial hardship as a result; demonstrated via a simple personal cash-flow statement (300 words or less) to the period end September 2020
- Not in receipt of other COVID-19 related business grant support. (e.g. not in receipt of Non-Domestic Rates Covid Grants, Small Business Grants, Creative, Tourism and Hospitality Hardship Grants)
- Do not receive working age benefit payments (Universal Credit, Statutory Sick Pay, Employment and Support Allowance, Job Seekers’ Allowance, Income Support) or have applied for but not yet started receiving Universal Credit or an advanced payment of Universal Credit
- Have taken steps to limit costs and expenditure (eg. through schemes such as VAT deferral / seeking a mortgage payment holiday)
- Do not have access to sufficient savings or other sources of income to meet basic needs
- The business operates within the local authority to whom you are submitting this application
You will be asked to provide documentary evidence of your status and eligibility for the grant.
You will need to provide:
- Proof of id – photo (e.g passport or driving licence)
- Proof of business address (e.g council tax or utility bill)
- Evidence of membership, accreditation, registration or listing with a recognised hospitality or tourism agency, representative body or marketing organisation.
- Personal cash-flow statement to the period end September 2020, demonstrating hardship from loss of business income (300 words or less)
You will be asked to provide evidence of active trading up to March 2020:
1) Trading accounts for 2018-2019
2) 3 months of personal or joint personal bank statements showing business revenue/expenditure during the financial year of 2019-2020
3) One of the following:
- HMRC unique tax reference
- VAT registration number
- Business Registration Number
4) Any one of the following:
- Evidence of trading (e.g. a supplier or trade account (active)
- Other evidence of recent business activity to support your claim (e.g. correspondence with customers/suppliers)
- Valid business insurance
- Current marketing materials for your business. (e.g. business website, active social media account)
Can I still work if I receive this grant?
You can continue to work or take on other employment, including voluntary work.
How long does it take to receive funds?
Up to 10 working days from application and appraisal to funds being released.
Source: FBS B&B Hardship Fund