CAN CHARITIES APPLY FOR THE VACANT COMMERCIAL PROPERTY GRANT SCHEME?
Released On 28th Mar 2022
As part of a scheme to reinvigorate the Bristol city centre, along with the high streets, the Bristol City Council is allocating funding for small or micro businesses that wish to use vacant commercial buildings.
Under the Council's definition, this includes Registered Businesses, Charities, CICs or Community/Voluntary Groups, Social Enterprises and Sole Traders that meet the following criteria:
- Employ less than 50 people
- Have a turnover of £10.2 million or less
- Have £5.1 million or less ton their balance sheet.
A total of £1.3 million is set to be allocated to the project, with the eligible business and charities being able to apply for grant funding of up to £10,000.
This funding can help to cover costs such as improving the building, necessary building works, as well as purchases of new equipment and shop fittings.
It is important to note that those wishing to access the funding will also be expected to match the awarded grant by at least 20 per cent.
To be eligible for the funding, organisations must wish to relocate to one of the city’s 46 high streets and have a clear idea of how their operations will benefit the wider community.
Some of these benefits, which some charities are likely to bring to the area, include improving disabled access and facilities and focusing on sustainability measures.
The deadline to submit applications for the grant will either be on 30 November 2022 at 17:00pm, or when the entire £1.3 million funding has been allocated – dependent on the earliest date.
Find out more about how to apply for the grant here.
For help and advice with related matters, please in touch with our charity finance team today.
