New financial support for micro businesses in Milton Keynes

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During the COVID-19 pandemic, Milton Keynes Council has shared over £37m of Government grant funding amongst eligible retail, hospitality, and leisure businesses, while reducing the business rates of more than 3,000 MK firms.

Now, in a bid to support very small and micro businesses an additional £1.97million has been made available to the Council.

Grants of between £1,000 and £25,000 are available to small firms with a focus on those who have high fixed property costs and/or who can show evidence of a significant fall in income due to coronavirus.

Interested businesses must apply through between 3 and 14 June and all applications will be considered by a panel based on eligibility criteria.

MK Council are working with the Local Business Network, which includes the Institute of Directors, Federation of Small Businesses and SEMLEP, who represent the interests of local businesses, for their views on the fairest way to distribute the funding.

Milton Keynes Council Leader, Cllr Pete Marland commented: “Many small businesses are in a make or break place right now and we hope this funding will be a timely lifeline, either to cover fixed property costs, mitigate losses or to help firms introduce social distancing measures. “The funding and business rates holiday we’ve put in place are only part of how we’ll be supporting local firms. I’ve asked council teams to start thinking about how we’ll help to boost local demand and confidence when national safety measures allow.”