New £9,000 Government Business Grant Offered To Support Businesses
Due to the new national lockdown, the government has announced extra economic support for businesses across the UK.
The chancellor, Rishi Sunak, informed the country, that the Government is to offer an additional £4.6 billion to help businesses that have been most affected by the coronavirus pandemic.
This will see the likes of the retail, hospitality and leisure sector get a payment of up to £9000 per business premises in a one off cash grant. The grant will be based on the rateable value of the property on the first full day of restrictions.
This comes on top of the current monthly grant of £3000 and the extension of Furlough till April. Local councils will also receive half a billion pounds to support businesses within their area.
The Chancellor also stated that £729 million pounds will be made available to the administrations in Wales, Scotland and Northern Ireland to support local businesses and economies.
The plans for the future remain unclear, but the Government has confirmed that it will perform an audit on its outgoings. A budget will be presented in early March. It is then hoped there will be more detailed information on what the economic response will look like from Spring onwards.
Can I Apply?
If you’re a business that was forced to close from the 5th of January because of the restrictions, then you can apply. If you were closed between the 5 November and 2 December 2020 then you can also apply.
You’re eligible if your business:
- is based in England
- occupies property on which it pays business rates (and is the ratepayer)
- has been required to close because of the national restrictions from 5 November to 2 December 2020
- has been unable to provide its usual in-person customer service from its premises
However, you’re not eligible if:
- you can continue to operate during the period of restrictions because you do not depend on providing direct in-person services from your premises
- you have chosen to close, but have not been required to close as part of national restrictions
- your business is in administration, insolvent or has been struck off the Companies House register
- you have exceeded the permitted state aid limit
How To Apply
Please contact your local authority if you think you’re eligible for the £9,000 Government Business Grant. If you’re unsure of what jurisdiction you fall into, you click the link here. Simply type in your postcode and the results will show at the top of the page. Your local council can provide you with all the information you need regarding support during these unprecedented times. You can also refer back to the Gov website here, which outlines all of the support business can receive.