3. East Devon Business Update
In preparation for the new restrictions, the Government has announced a series of economic support measures to coincide with the national measures. This includes an extension of the furlough scheme and the self-employed income support scheme. Additional grant support for businesses required to close have also been announced.
Grant Support for Businesses:
We are awaiting fuller guidance along with a full list of businesses required to close from the Department of Business, Energy & Industrial Strategy (BEIS), but the support will include:
- Business premises forced to close in England due to local or national restrictions are to receive grants worth up to £3,000 a month under the Local Restrictions Support Grant.
- For properties with a rateable value of £15k or under, grants to be £1,334 per month, or £667 per two weeks;
- For properties with a rateable value of between £15k-£51k grants to be £2,000 per month, or £1,000 per two weeks;
- For properties with a rateable value of £51k or over grants to be £3,000 per month, or £1,500 per two weeks.
- Additional funding is being given to local authorities for one-off payments to enable us to support businesses more broadly.
To make clear, local authorities have not yet received any further information regarding business grants. As such, please do not contact us to ask for further information at present.
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