Tag Archive for coronavirus grant

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Treasury bails out small businesses in co-working spaces

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Originally written by Timothy Adler on Small Business
The government has bailed out small businesses in co-working spaces and market traders ineligible for coronavirus business grants to the tune of £617m.
This additional £617m will be added to the £12.3bn handed to local authorities for them to distribute to all small businesses, with additional help for those in retail, leisure and hospitality.
Small businesses working out of co-working spaces cried foul that, because they were not directly paying business rates, they were ineligible for either the small business grants fund or the retail, hospitality and leisure grants.
>See also: Nearly 40% of small business grants still unpaid five weeks in
According to research from business rates experts Colliers, more than 10,000 small businesses based in shared offices originally missed out on the grant.
There will be three levels of grant payments from between £10,000 up to £25,000.
However, local authorities can decide to pay amounts of less than £10,000 depending on local needs, if they so wish.
Qualifying businesses

Businesses in shared spaces
Regular market traders
Small charity properties
Bed and breakfasts that pay council tax rather than business rates

Emma Jones, founder small business support network, Enterprise Nation, said: “It is great news that the government has extended grant support to small

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Where to find your small business coronavirus grant

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Originally written by Small Business Team on Small Business
Responding to the coronavirus (Covid-19) pandemic, the government announced there would be support for small businesses and businesses in the retail, hospitality and leisure sectors. This small business coronavirus grant will take the form of two funding schemes:

The Small Business Grant Fund – a one-off grant of £10,000 for eligible businesses to help meet their ongoing business costs
Retail, Hospitality and Leisure Grant – a cash grant of up to £25,000 per property if you are eligible (businesses with a property that has a rateable value of over £15,000 and less than £51,000)

So far, about 50 per cent of businesses eligible for the coronavirus small business grant have received their cash but some councils have only distributed a tenth of the money due to small businesses, according to the business ministry.
See also: How to get the government’s £10,000 cash grant for small businesses
As of April 20, £6.11bn has been paid out to 491,725 business properties in England.
Because grants are allocated per business property, a single business can receive multiple grants and may receive grants from separate local authorities.
English Local Councils Coronavirus Grants

Local Authority Initial Allocation (£)No. of eligible small businesses as of April

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Revealed – 6 worst councils for handing out coronavirus business grants

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Originally written by Timothy Adler on Small Business
The government has released figures for the worst- and best-performing local authorities in England when it comes to handing out coronavirus business grants.
Birmingham, Luton, Sandwell in the West Midlands, Slough, South Oxfordshire and Tunbridge Wells are the worst performing local authorities, according to the Federation of Small Businesses (FSB).
Each of the six local authorities have only managed to pay out 11 per cent of their emergency coronavirus business grants allocation, totalling £408m between them.
>See also: How to get the government’s £10,000 cash grant for small businesses
Mike Cherry, national chairman of the FSB, said that some local authorities have only managed to get out between 10 per cent and 20 per cent of their total £12.3bn business support package. Any delay was “inexcusable”, he said.
The top three best-performing local authorities for getting the small business grants out are Winchester City Council, which has completely deployed its £29.2m funding allocation, Redcar and Cleveland Borough Council (98 per cent) and the London borough of Southwark (93 per cent).
Cherry added: “For many small businesses, access to these grants will decide the fate of their futures, and it’s excellent to see so many local authorities across England getting

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Less than 10% of businesses can access government coronavirus funding

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Originally written by Anna Jordan on Small Business
New figures show that most small businesses can’t access the government’s emergency coronavirus funding despite wanting to take advantage of it.
One set of statistics from UK Finance reveals that just 2,022 loans have been made to UK SMEs through the government’s Coronavirus Business Interruption Loan Scheme (CBILS), with less than 1pc of enquiries resulting in these loans.
Meanwhile, the Corona Business Impact Tracker from the British Chamber of Commerce (BCC) measures the impact of coronavirus on businesses as well as the effectiveness of the government’s emergency actions. The latest polling took place from 1-3 April and received 1000 responses.
The tracker shows that awareness of the schemes is high: 59pc knew about the CBILS and 19pc planned to use it. Fewer business owners (42pc) knew about the grants available to small businesses and 24pc planned to use it.
Polling numbers say that 8pc of respondents were unsuccessful in getting access to the CBILS. They cite that the application process was slow and that they couldn’t get responses from the relevant body. The BCC is optimistic that successful applications will increase in the coming weeks.
As for the grant schemes, 7pc of respondents were using them at the

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How to get the government’s £10,000 cash grant for small businesses

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Originally written by Anna Jordan on Small Business
How do I get the government £10,000 coronavirus cash grant?
Last night (17 March), the chancellor announced an increase in the small business coronavirus cash grant, taking it from £3,000 to £10,000.
This is part of a £330bn package of support for businesses, equivalent to 15 per cent of GDP.
Read more about the update at What does the latest Treasury stimulus mean for small business?
>See also: How do I apply for a Coronavirus Business Interruption Loan?
Eligibility is still based around rate relief. Those who qualify for Small Business Rate Relief (SBBR) or Rural Rate Relief will be able to get the funding.
The Department for Business, Energy & Industrial Strategy will be working with local authorities to outline the scheme and encourage local authorities to prepare.
However, once up-and-running, your local authority will contact you rather than having to apply yourself. Grant money will not be available until early April, as stated on the government website.
This additional funding for local authorities who collect business rates is part of a package of fiscal measures to help small business survive the coronavirus pandemic.
The coronavirus grant only applies to small business in England. Business rates in Scotland, Wales and Northern Ireland are set by

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How do I get the government £3,000 coronavirus grant?

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Originally written by Timothy Adler on Small Business
How do I get the government £3,000 coronavirus grant?
The government has announced small businesses that already pay little or no business rates will be eligible for a one-off coronavirus grant worth up to £3,000.
For a commercial property with a rateable value of £12,000, this is one quarter of its rateable value, or comparable to three months of rent.
>See also: How do I apply for a Coronavirus Business Interruption Loan?
Around 700,000 businesses in England currently eligible for Small Business Rate Relief (SBBR) or Rural Rate Relief can apply for the emergency funding.
The additional £2.2bn of funding for local authorities is part of a package of fiscal measures to help small business survive the coronavirus pandemic.
However, the £3,000 coronavirus grant only applies to small business in England. Business rates in Scotland, Wales and Northern Ireland are set by their devolved administrations.
This comes on top of the government announcing in the 11 March Budget that companies in the retail, leisure and hospitality sectors with a rateable value of less than £51,000 will not pay any business rates this year.
The discount that pubs receive on their business rates will increase from £1,000 to £5,000.
The government will also

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