During these trying times, the government has been working hard to offer support to small and medium sized businesses. One of these solutions is their Business Grants. The Small Business Grants Fund (SBGF) and the Retail, Hospitality and Leisure Grant Fund (RHLGF) are the two grant options that have been created for England, with Scotland, Ireland, and Wales offering different support for their businesses - so please note, this article shares the details for the English grants. These are a fantastic way for helping businesses as it is distributed on a local level, given by local authorities to businesses who are paying business rates.
If you were paying business rates on the 12th March 2020, then it means that you will qualify for the grant from the council, subject to rateable value of the premises, with the grant available from £10,000 to £25,000 depending on this value.
Under the Retail, Hospitality and Leisure Grant (RHLG) eligible businesses in England in receipt of the Expanded Retail Discount (which covers retail, hospitality and leisure) with a rateable value of less than £51,000 will be eligible for a cash grants of £10,000 or £25,000 per property.If you are in the retail, hospitality, and leisure sector, with a rateable value of less than £51,000 as of 11th March 2020, and were eligible for a discount under the business rates Expanded Discount Scheme, had that scheme been in force, are automatically eligible for this grant. The grant will be given once per eligible property. However, you cannot get the RHLG for properties used for personal use, car parks, were in liquidation or dissolved as of 11th March 2020, or for properties with a rateable value over £51,000.
Under the Small Business Grant Fund (SBGF) all eligible businesses in England in receipt of either Small Business Rates Relief (SBRR) or Rural Rates Relief (RRR) - including those with a Rateable Value between £12,000 and £15,000 which will receive a tapered relief - in the business rates system will be eligible for a payment of £10,000. The business must have had a property as of 11th March 2020 that was not dissolved or in liquidation. You will not receive the grant if the property is used for personal use, car parks or for parking spaces.If you are eligible, you will receive one grant per property.
Businesses within the sectors mentioned above, with a rateable value below £51,000 will qualify for the grant.If you have a property with a rateable value of up to and including £15,000, you will receive a grant of £10,000 from your local authority. When your business has a property with a rateable value of over £15,000 and less than £51,000 you will receive a grant of £25,000.
The person who will receive the Small Business Grant Fund and the Retail, Hospitality, and Leisure Grant will be the person who, according to the billing authority's records, was the ratepayer on 11th March 2020. If the local authority believe they have the wrong information about the ratepayer, they may withhold or recover the grant and take reasonable steps to identify the correct person. In short - the grant is for the person who is the ratepayer.If you are a landlord or a management agent for properties which would qualify, you should contact the local government to confirm who the correct ratepayer is, so they can give this grant to the correct person.
I think the government has been doing a fantastic job in comparison to other countries for supporting small and medium businesses. I think they have also done a fair job, particularly as the chancellor has had to come up with solutions in such a short amount of time.As shared by the chancellor, there will be some industries and cases that will fall through the cracks when putting through such schemes in such a trying time. So many business owners are sitting, doing nothing and blaming others during this time, and will ultimately have only themselves to blame if their business goes belly up. Those business owners who are showing fantastic support, working hard to showcase their driven and open-hearted personalities - your business will thrive and be better than before, after all of this.I want to encourage you to take the action you need to, and help your business survive and come out of the other side with a business that can make it through such tough times and be a success.
