Following recent Government announcements relating to the support of General Small Business and also the Leisure, Hospitality & Retail Business, a number of our clients have made further enquiries as to their eligibility for the Scheme.  

  1. A Recap
  • Small businesses, as well as companies in the retail, hospitality and leisure sectors, have the opportunity to apply for a grant to help them during the COVID-19 pandemic;
  • The Small Business Grants Fund makes £10,000 available per eligible business who are currently in receipt of small business rates relief.
    • Payments will be made by Councils from government funding to support a business’s cash flow.
  • The Retail, Hospitality and Leisure Business Grant scheme provides businesses in the retail, hospitality and leisure sectors with a cash grant of up to £25,000 per property:
    • For businesses in these sectors with a rateable value of under £15,000, they will receive a grant of £10,000.
    • For businesses in these sectors with a rateable value of between £15,001 and £51,000, they will receive a grant of £25,000.
  • Businesses will only be allowed to claim for one grant and must also be aware of State Aid rules in applying.

 

  1. So What Do I Need To Do?
  • Contrary to what was originally announced by Government, Councils are now stating that a simple form must be submitted by relevant businesses for the grant which applies to them, to ensure the council meets government requirements;
  • Southend Borough Council have recently released their application process, Business Rates Grants 2020-2021
    • If your business is registered in another Council jurisdiction then you should look on your local Council website for details of how to apply

Barrons has put together a helpful guide to running your business during the coronavirus crisis.