Grant schemes for small businesses in England
16/11/2020
Two grant schemes are now available for small businesses in England to help them through the current period of national restrictions.
One is for businesses that have had to close, and another scheme provides further business support as a result of the coronavirus pandemic.
Money was transferred to councils in England on Friday (13 November) and businesses can expect to receive money covering the four-week period of national restrictions in the coming days. Companies should check their council’s website for details.
We urge businesses to engage with their local authority and ensure that council officials have contact and payment information for them. Companies will risk not receiving this vital support if they do not.
The Local Restrictions Support Grants is for businesses which have had to close or have been severely impacted by local restrictions (hospitality, leisure and non-essential retail sectors):
- business owners will receive £1,334 per 4 weeks if they have a rateable value below £15,000
- they will receive £2,000 per 4 weeks if they have a rateable value between £15,000 and £51,000
- they will receive £3,000 per 4 weeks if they have a rateable value above £51,000
The Local Restrictions Support Grants (Closed) Addendum is mandatory grant funding for businesses that have a rateable value (but note the scheme is not based on eligibility for rate reliefs, commonly applied thresholds in the rating system are used to set different grant rates).
During this period a single grant to cover the 4-week period will be paid to each eligible business. The grant amounts will be fixed. Businesses with more than one qualifying property will receive more than one grant.
The Additional Restrictions Grant is provided by councils on a discretionary basis.
Those likely to be in receipt of these grants include large employers with significant fixed costs such as seaside attractions or local manufacturers, as well as sole traders, tour operators and market traders who do not have a rateable value.
The ARG is a one-off payment for local authorities in financial year 2020/2021 and is to be used in 2020/2021 and 2021/2022 and will not be renewed.
UKFT is in constant dialogue with the government and is outlining the latest support available for UK fashion and textile businesses on our website. We will update this page as new guidance becomes available or the situation changes.
For UKFT members with specific enquiries, please contact info@ukft.org.