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The Government recently announced the availability of the Small Business Grant Fund scheme to local authorities in order to support small business owners to meet their operating costs.
Businesses in England will be eligible for the grant from 11 March 2020, if they were in receipt of either Small Business Rates Relief or Rural Rates Relief and as long as they do not fall into one of the exclusions outlined below.
Businesses can obtain Small Business Rate Relief if their property’s rateable value is less than £15,000, and they qualify for Rural Rates Relief if the business is operating within a rural area with a population below 3,000. In addition, the business will be eligible for the funding if it meets the criteria below:
- the only village shop or post office, with a rateable value of up to £8,500; or
- the only public house or petrol station, with a rateable value of up to £12,500.
If the business is eligible for the Small Business Grant Fund, it will receive a payment of £10,000.
Businesses that are eligible will be contacted by their local authority who will arrange payment.
- Properties occupied for personal use, such as private stables and horse boxes, beach huts and moorings;
- Car parks and parking spaces; and
- Businesses which as of the 11 March were in liquidation or were dissolved will not be eligible.
For any help and support please contact us or speak to your personal contact at Wilson Wright.