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COVID-19: Further grants available to businesses

Councils across England have been given a further £2.2 billion from the Government to help businesses through the current period of national Covid-19 restrictions, says commercial property agent Prop-Search.

Businesses will benefit from two grant schemes; one for businesses that have had to close as a result of the coronavirus pandemic, and another scheme offering further business support to protect people’s jobs, livelihoods and communities.

A Local Restrictions Support Grant (LRSG) is available to hospitality, leisure and non-essential retail businesses that have been required to close their main services as a result of national lockdown measures between 5 November and 2 December. 

Business owners will be eligible to receive £1,334 per 4 weeks if their property has a rateable value below £15,000; £2,000 per 4 weeks if they have a rateable value between £15,000 and £51,000; or £3,000 per 4 weeks if they have a rateable value above £51,000

Samantha Jones, an Associate Director and retail specialist at Prop-Search, said: “Businesses that have set up a click and collect service, or restaurants that are providing a takeaway service, will still be able to claim grants if their substantive business has had to close.”

“Unfortunately, this scheme is not open to businesses that can remain open but have chosen to close or those that operate from home, with the exception of registered bed and breakfasts.  AirBnBs are also not eligible.”

The Government has also allocated funding to Local Authorities to pay out under an Additional Restrictions Grant.  This focuses on businesses which supply the retail, hospitality, and leisure sectors; businesses in the events sector; and businesses outside the business rates system which are effectively forced to close.

In conclusion, Samantha said: “Eligible businesses affected the current Coronavirus restrictions are encouraged to apply for the latest rounds of Government grants.”

Tuesday, November 17, 2020