The Government has recently announced another grant scheme for those businesses who have fixed property costs but were not eligible for the previous small business rates or retail grants.
Who can apply?
To qualify businesses must:
- have been trading before 11 March 2020
- have fixed property cost
- have less than 50 employees
- be able to demonstrate that they have seen a significant drop of income due to Coronavirus restriction measures
Examples of businesses who are eligible include:
- businesses in shared spaces – such as offices or industrial parks who don’t have their own business rates assessment
- regular market traders
- charity properties in receipt of Charitable Business Rates Relief
- bed and breakfasts that pay council tax rather than business rates
However, other businesses may qualify as it is at the discretion of the local authority.
How much is the grant?
There are three levels of grant available:-
- up to £10,000
- between £10,000 and £25,000
- over £25,000
The criteria for each level is yet to be defined.
How do I apply?
The local authorities are awaiting further guidance from the Government on these grants and will be updating their websites with the next steps. You should apply directly through your Local Authority.
You can find the latest available information at:
Need help in understanding what support is available to your business in these challenging times? Get in touch and we’ll be happy to help!