Tag Archive for Small Business Grants Fund

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Small business calls for multibillion-pound Covid-19 support package

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Originally written by Timothy Adler on Small Business
Small business has asked the chancellor for a multibillion support package to help get it through to the other side of the pandemic.
Mike Cherry, national chairman of the Federation of Small Businesses, has written to Rishi Sunak outlining his proposed small business support package.
Measures include a second round of £10,000 grants, a new German-style reimbursement scheme for lost trading, improved terms for state-backed Bounce Back Loans and income support for the newly self-employed.
>See also: Rishi Sunak urged to help self-employed company directors
Small businesses with fewer than 50 employees account for 99 per cent of all businesses in the UK. SMEs account for three fifths of all employment in the private sector.
In particular, the FSB has called for:

Small Business cash grants – a second round of one-off grants of £10,000 through the Small Business Grant Fund (SBGF), plus targeted grants of up to £25,000 for small firms in retail, hospitality and leisure
Revenue Loss Scheme – a German-style scheme to reimburse small businesses for the financial impact of a significant loss in custom, whereby the government would cover a percentage of lost revenue compared to the same time last year. The German version of this

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Where to find your £1,000 small business lockdown grant

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Originally written by Timothy Adler on Small Business
The government has announced a new £1,000 small business grant for any small business in England affected by a local lockdown.
Businesses that are forced to shut because of local COVID-19 lockdowns will be able to claim up to £1,500 per property every three weeks.
Local authorities will administer the new small business local lockdown grant. You can find the full list of local authorities here.
See also: How to claim your £1,500 Kickstart Scheme grant
If a business occupies a premises with a rateable value less than £51,000 or occupy a property or part of a property subject to an annual rent or mortgage payment of less than £51,000, it will receive £1,000.
If a business has a rateable value more than £51,000 or part of a property subject to an annual rent or mortgage payment of more than £51,000, it will receive £1,500.
Extra discretionary funding
Local authorities will also receive an additional 5 per cent top up amount of business support funding to enable them to help any other small business affected by local lockdown which may not be on the business rates list. Payments made to businesses from this local authority discretionary fund can be any

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Where to find your £1,000 small business lockdown grant

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Originally written by Timothy Adler on Small Business
The government has announced a new £1,000 small business grant for any small business in England affected by a local lockdown.
Businesses that are forced to shut because of local COVID-19 lockdowns will be able to claim up to £1,500 per property every three weeks.
Local authorities will administer the new small business local lockdown grant. You can find the full list of local authorities here.
See also: How to claim your £1,500 Kickstart Scheme grant
If a business occupies a premises with a rateable value less than £51,000 or occupy a property or part of a property subject to an annual rent or mortgage payment of less than £51,000, it will receive £1,000.
If a business has a rateable value more than £51,000 or part of a property subject to an annual rent or mortgage payment of more than £51,000, it will receive £1,500.
Extra discretionary funding
Local authorities will also receive an additional 5 per cent top up amount of business support funding to enable them to help any other small business affected by local lockdown which may not be on the business rates list. Payments made to businesses from this local authority discretionary fund can be any

Read more...

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Alok Sharma wants to throw small businesses in lockdown lifeline grants

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Originally written by Timothy Adler on Small Business
Alok Sharma, the business secretary, is considering renewing lifeline grants for small businesses which find themselves in sudden local lockdowns.
Ministers are worried about the effects on local economies, especially in the North, if small businesses have to shut up shop again because of wildcat lockdowns.
The so-called Red Wall constituencies in the North of England will be especially vulnerable to sudden lockdown once the furlough scheme comes to end in October.
>See also: How to claim your £1,500 Kickstart Scheme grant
Ministers are looking at a system of local lifeline grants to help small businesses keep staff on, modelled on an £11bn scheme used during the lockdown, according to The Times.
Pubs, cafés, restaurants, hotels and other hospitality businesses forced to close during the lockdown were eligible for grants worth up to £25,000 each, while other small businesses were handed £10,000 in one-off support.
Almost one fifth (17 per cent) of small businesses don’t think they’d survive another lockdown and would be forced to stop trading permanently if one came into effect, according to a new report by small business insurer Simply Business.
Alan Thomas, UK CEO at Simply Business, said: “The nationwide lockdown has had a significant effect

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Alok Sharma wants to throw small businesses in lockdown lifeline grants

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Originally written by Timothy Adler on Small Business
Alok Sharma, the business secretary, is considering renewing lifeline grants for small businesses which find themselves in sudden local lockdowns.
Ministers are worried about the effects on local economies, especially in the North, if small businesses have to shut up shop again because of wildcat lockdowns.
The so-called Red Wall constituencies in the North of England will be especially vulnerable to sudden lockdown once the furlough scheme comes to end in October.
>See also: How to claim your £1,500 Kickstart Scheme grant
Ministers are looking at a system of local lifeline grants to help small businesses keep staff on, modelled on an £11bn scheme used during the lockdown, according to The Times.
Pubs, cafés, restaurants, hotels and other hospitality businesses forced to close during the lockdown were eligible for grants worth up to £25,000 each, while other small businesses were handed £10,000 in one-off support.
Almost one fifth (17 per cent) of small businesses don’t think they’d survive another lockdown and would be forced to stop trading permanently if one came into effect, according to a new report by small business insurer Simply Business.
Alan Thomas, UK CEO at Simply Business, said: “The nationwide lockdown has had a significant effect

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You have just one month to claim up to £1.6bn in unspent grants

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Originally written by Timothy Adler on Small Business
Small businesses have until the end of August to claim up to £1.6bn in unspent grants through the Government’s COVID-19 emergency help schemes.
Business secretary Alok Sharma has written to local authorities asking them to return £1.6bn in currently unspent grants issued through either the £25,000 retail, leisure and hospitality scheme or the separate £10,000 scheme for firms eligible for small business rates relief by Friday, August 28.
This is despite thousands of businesses that have applied for grants still waiting for the money to hit their accounts.
>See also: How to get the government’s £10,000 cash grant for small businesses
Two schemes worth £12.4bn were set up in March to provide payments through the business rates system as Britain went into lockdown.
Shops, hotels, restaurants and other leisure businesses whose premises’ rateable value – which determines how much commercial property tax they pay – is between £15,000 and £51,000, are eligible for a £25,000 grant through the Retail, Hospitality and Leisure Grants Fund.
Separately, any business qualifying for small business rate relief or rural rates relief is eligible for a grant of £10,000 through the Small Business Grant Fund (SBGF), as is any business in the retail, leisure

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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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