Originally written by Anna Jordan on Small Business
Bristol Council warns that the government hasn’t given them enough grant funding to help small businesses to survive lockdown, according to the Financial Times.
In early May, the government offered £617m for businesses that missed out on the earlier business rates grants scheme. These grants will be distributed to businesses that operate in shared workspaces, market traders, charity shops and bed and breakfasts.
The funding doesn’t stretch far enough for all of those who are eligible, leaving it for the councils to decide who should benefit. A number of tech companies and boutiques operate from shared spaces where business rates are often incorporated into the rent.
Craig Cheney, deputy mayor of Bristol, says that the city had at least 1,700 businesses in shared spaces but only £3.5m to allocate.
“To give them all £10,000 we would need £17m. We have got 400 market traders and we estimate 110 B&Bs. It is going to be hard to administer,” he said.
The city has 21,000 businesses with fewer than 50 employees and only 7,000 have received support so far. It’s opening applications on Monday for two weeks but hasn’t decided on what basis to allocate the money.
Matt Griffith, director of