COVID-19: Financial support for business during coronavirus – Business Grants

legal updates

Businesses, with a rateable value of £15,000 will receive a £10,000 grant, whereas rateable values from £15,000 to £51,000, will receive a £25,000 grant.

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As part of the packages announced by the Government to assist small businesses during this most testing of times, many will now be eligible for grants under two funding schemes to be delivered by local authorities known as the (1) Small Business Grant Fund (SBGF) and (2) Retail Hospitality & Leisure Grant Fund (RHLGF).

Subject to eligibility, local authorities will make contact with businesses direct to arrange payment and many of you will no doubt already have been contacted, in this regard.

Under the SBGF, all eligible businesses within the business rates system will receive a payment of £10,000.

Under the RHLGF, all eligible businesses in receipt of Expanded Retail Discount (ERD) with a rateable value of less than £51,000 will receive a grant of £10,000 to £25,000 per property.

So, businesses, with a rateable value of £15,000 will receive a £10,000 grant, whereas rateable values from £15,000 to £51,000, will receive a £25,000 grant.

However, businesses with a rateable value of more than £51,000 do not qualify and neither do businesses that are not ratepayers within the business rate system, as at the 11 March 2020.

Further details of the scheme can be found within the GOV Guidance notes (Version 2) via www.businesssupport.gov.uk.

If in doubt, speak with your local authority, in the first instance. 
Thereafter, any further queries, please do not hesitate to contact Lawgistics.

We are always pleased to help.

Since there is very little practical guidance as to how these schemes are to be administered, we would be most interested to hear of you experiences, be that good, bad or ugly! 

InvolutionSTAFF UNIFORM | PROMOTIONAL WEAR | MERCHANDISE | BUSINESS GIFTS

Leading experts in print, promotional clothing, staff uniforms, branded merchandise and PPE. Involution is your brand partner for promotional marketing and workwear, a one-stop-shop for your branded marketing needs for any business size and industry.

Howard TilneyHead of Strategy / Legal AdvisorRead More by this author

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