Grant for small businesses

 

 

What is it?

 

 

This scheme is called the Small Business Grant Scheme. Via local authorities, it will give grants to small businesses that get small business rate relief (SBBR) and/or rural rate relief (RRR). 

 

 

The Scheme will give one-off grants of £10,000 to eligible businesses.

 

 

Is your business eligible?

 

 

You’re eligible for a grant under the Small Business Grant Scheme if you match all these criteria:

 

 

Your business:

 

 

 

 

Can’t remember if you get one of these types of rate relief? Check your latest rates bill – the relief is shown on there. Alternatively, ask your accountant.

 

 

Similar schemes are available in ScotlandWales and Northern Ireland 

 

 

How and when do you get the money?

 

 

You don’t need to do anything yet. Your local council will contact you if your business is eligible. 

 

 

Eligible businesses will get the full £10,000

 

 

The  Government announced that these grants will be available in early April 2020. To find out exactly when the money will be available, look out for an announcement on the UK Government website or your local council’s website.  

£10,000 or £25,000 grant for retail, hospitality and leisure

 

 

What is it?

 

 

This scheme is called the Retail and Hospitality Grant Scheme. It will offer a cash grant of either £10,000 or £25,000 per property to businesses in retail, hospitality and leisure. 

 

 

Businesses with a rateable value of under £15,000 will get £10,000 

 

 

Businesses with a rateable value of between £15,001 and £51,000 will get £25,000

Is your business eligible?

 

 

You’re eligible for this grant if your business: 

 

 

  • is based in England, and

  • operates in the retail, hospitality and/or leisure sector 

 

 

Similar schemes are available in Scotland and Wales – see below for details.

 

 

The Government stated that this Scheme is for businesses with properties entirely or mainly used: 

 

 

  • as shops, restaurants, cafés, drinking establishments, cinemas and live music venues 

  • as hotels, guest and boarding premises and self-catering accommodation 

  • for assembly and leisure

 

 

Not sure if your business comes under one of these categories? There’s a full list of how the Government define them in this guidance document, pages 5 to 8.

 

 

How and when do you get the money?

 

 

You don’t need to do anything yet. Your local council will contact you if your business is eligible.

 

 

Eligible businesses will get the full £10,000 or £25,000

 

 

To find out exactly when the money will be available, look out for an announcement on the UK Government website or your local council’s website.  

Can you get both grants?

 

 

If your business is eligible for the Small Business Grant Scheme and the Retail and Hospitality Grant Scheme, it seems you’ll get both grants. However this isn’t confirmed yet by the Government.

 

Your local council are currently organising how to distribute the money and they’ll contact all eligible businesses. They’ll be in touch with you as soon as they can.

 

For small businesses in Scotland

 

 

On 18 March, the Scottish Government Economy Secretary Fiona Hyslop announced measures to support businesses in Scotland from 1 April 2020. They include: 

 

 

  • a full year’s 100% non-domestic rates relief for retail, hospitality and tourism

  • £10,000 grants for small businesses in receipt of the Small Business Bonus Scheme or Rural Relief

  • £25,000 grants for hospitality, leisure and retail properties with a rateable value between £18,000 and £51,000

  • 1.6% relief for all properties, effectively freezing the poundage rate next year

  • urging local authorities to relax planning rules to allow pubs and restaurants to operate temporarily as takeaways

 

For small businesses in Wales

 

 

The aid available for small businesses in Wales is similar to that available for businesses based in England but the eligibility criteria are slightly different. 

 

 

For more information, read Coronavirus: support for businesses on the Welsh Government’s website.

 

 

For small businesses in Northern Ireland

The aid available for small businesses in Northern Ireland is similar to that available for businesses based in England but the eligibility criteria are slightly different. 

Adept Accountants Ltd 


Tel: 0203 488 3736
Email: info@adeptaccountants.uk​
Address​​​​​​: 95 Miles Road Mitcham

Greater London CR4 3FH

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