Don’t take this for Granted – Is your business eligible for a Small Business Grant?
On 17 March 2020, the UK government announced a number of relief packages for businesses due to the Coronavirus, Covid-19 pandemic.
Amongst these was the Small Business Grant Fund (SBGF). Here are a selection of FAQ which give a quick overview on how to obtain a SBGF if your business is eligible.
How are these provided for?
Funding will be supplied to local authorities by central government.
Which businesses are eligible?
Business with a property who were eligible for Small Business Rates Relief (SBRR) on 11 March 2020 (including those with a rateable value between £12,000 and £15,00 which receive tapered relief).
Businesses who were eligible for the Rural Rate Relief Scheme (RRS) on 11 March 2020.
Properties occupied for personal use.
Car parks and parking spaces.
Businesses that were in liquidation or dissolved on 11 March 2020.
Who will receive the funding?
The ratepayer (according to the billing records of the local authority).
How much support will your business be eligible for?
Any business currently in receipt of Small Business Rate Relief will be eligible for a £10,000 grant.
How do you apply?
The local authority will identify eligible businesses and notify them in writing. Most businesses should have been contacted by 4 April 2020. If your business has not received any correspondence, however you believe your business fits the criteria, contact your local authority.
You can visit your business premises to collect your letter as it is considered a legitimate reason to leave the house. Police have been informed that these letters have been sent out to business addresses.
You should be able to complete your application online. After that, you will be asked for the following information (may vary dependent on local authority):
Your Business rates account number
Unique Grant reference number from your letter
Your business bank details and an image of your business bank statement or cheque book
Local authorities will not cold call you to ask for your bank detail or rate account number on the phone or by email.
Do not provide this information to anyone claiming to be from the local authority or acting on behalf of the local authority.
How long before payment is received?
Payments should be made within 10 days of submission, depending on the local authority.