Two grant schemes are now available for small businesses in England to help them through the current national lockdown restrictions.
One grant scheme is for businesses that have had to close, and another scheme provides further business support as a result of the coronavirus pandemic.
Both grants are available through your local council, and businesses are expected to receive money covering the four-week period of national restrictions in the coming days — companies should check their council’s website for details.
The Local Restrictions Support Grants is for businesses that have had to close or have been severely impacted by local Covid-19 restrictions. Business owners will receive:
- £1,334 per four weeks if they have a rateable value below £15,000
- £2,000 per four weeks if they have a rateable value between £15,000 and £51,000
- £3,000 per four weeks if they have a rateable value above £51,000
The Local Restrictions Support Grants (Closed) Addendum is mandatory grant funding for businesses that have a rateable value — this scheme is not based on eligibility for rate reliefs, commonly applied thresholds in the rating system are used to set different grant rates. The grant amounts will be fixed, and a single grant to cover the four-week period will be paid to each eligible business during this period. Businesses with more than one qualifying property will receive more than one grant.
Also open for applications, the Additional Restrictions Grant (ARG) is provided by councils on a discretionary basis. This grant is aimed at large employers with significant fixed costs, such as local manufacturers, as well as sole traders and market traders who don’t have a rateable value for example.
The ARG is a one-off payment for local authorities in financial year 2020/2021, and is to be used in 2020/2021 and 2021/2022, and will not be renewed.