The Chartered Trading Standards Institute (CTSI) warned that the bogus emails say that the receiver has been awarded a Retail, Hospitality and Leisure Grant valued at £25,000.
The email then asks the recipient to clock a link and enter their personal and payment details. The data is sent to scammers who then deduct money from the account.
Trading Standards is concerned that businesses in the leisure and hospitality sector may be more likely to fall for the phoney grant, given the devastating effects the COVID-19 coronavirus has had on the sector.
CTSI lead officer, Katherine Hart, said: "I have seen so many different kinds of emails, texts, and reports of doorstep and phone scams themed around COVID-19.
"I want to warn businesses that they should be eagle-eyed when receiving emails offering help, and never click the links in them. I understand that this seems like good news, especially for businesses deeply affected by lockdown, but always remember that if it sounds too good to be true, then it probably is. Just don't risk it."