4. Business Grant
The government has announced two cash grant schemes:
Scheme 1 – Business Support Grant Fund
Businesses that qualified for small business rate relief (SBRR) or rural rate relief on 11 March 2020, including those in receipt of tapered relief, will be eligible for a grant payment of £10,000.
Properties that are occupied for personal use (for e.g. private stables, beach huts, car parking spaces and personal storage) will not qualify, nor will those properties whose liability is calculated using the small business multiplier (this is shown on the business rates bill).
Scheme 2 – Retail, Hospitality and Leisure Business Grant Fund
Properties that would have qualified for the retail discount on 11th March 2020 will either be entitled to:
- £10,000 where the rateable value (RV) of the premises is £15,000 or less or;
- £25,000 where the RV is greater than £15,000 but less than £51,000
- Premises with an RV above £51,000 are not eligible for this grant
The Council is awaiting detail from Government on the administration of these grants. This is expected within the next few days. To be clear, the Government are not expecting payments of these grants to be made until early April.
As soon as we have both the guidance and funding we will implement these payments quickly, knowing how important this will be in supporting your business at this critical time.