Business grants on the way

Council staff are working hard in administering the business rate grants announced by the Government to help some of our small and medium sized firms during this unprecedented situation.

So far, more than 1,100 grants are being processed for payment in the week starting April 6^th.

A total of 4,175 businesses have been identified as qualifying for the Government funds. All funds for these will be administered as quickly as possible.

The Small Business Grant Fund gives those businesses who are in receipt of Small Business Rate Relief (SBRR) in the business rates system, a payment of £10,000.

Under the Retail Hospitality and Leisure Grant (RHLG), businesses what would have been in receipt of the Expanded Retail Discount on 11^th March, with a rateable value of less than £51,000 in the business rates system will be eligible for the following cash grants;

• For businesses in this sector with a property that has a rateable value of up to and including £15,000, they will receive a grant of £10,000
• For businesses in this sector with a property that has a rateable value of over £15,000 but less than £51,000, they will receive a grant of £25,000.

Businesses are only eligible for one of these grants.

Any businesses who have not already done so, are being urged to complete the online form in full so we can complete the mandated verification checks and if they are then eligible, we can get the payment out to them as soon as possible.

More information and a link to the online form can be found here: https://theshuttle.org.uk/support-for-local-businesses-during-coronavirus-update/

The business rates holiday for 2020/21 for all businesses in the retail, hospitality and leisure sector will be awarded without the need to apply.

Councillor Phil Riley, Executive member for Growth and Development, said:

Business staff at the Council are working incredibly hard to get the grant money out to businesses as soon as possible. The money from the government to pay these grants arrived in the Council’s account yesterday and we are now able to move it onto local businesss as soon as the relevant checks have been done.”

We really understand the need to get funds out as quickly as possible and we are working around the clock to make this happen.

This is a complex situation, especially as we are the largest business base in Lancashire and have a huge amount of premises. But rest assured, if you have qualified for these grants, you will soon be seeing some relief.”

Overall guidance on Government support for businesses can be found here: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses