Business Grant Funding

Hello folks, a message for the local businesses amongst us. Troubled times indeed and so very, very stressful as well. So, a bit of positive news. Well more like details of some positive assistance to be more accurate. The assistance news comes in the form of Business Grant Funding.

In a previous working life I used to work for the external auditors where part of our role was to audit a variety of grants that were available from local authorities and the European Union.

I also worked “on the other side of the fence” so to speak when I worked for a firm of consultants who assisted local, small businesses in making them aware of, and provided assistance, in how to access business grants and support.

So, the upshot of that is that I know only too well from personal experience how applying for business grant funding can, in itself, be quite stressful and a potential minefield.

Business Grant Funding – Covid-19 Related

These specific, additional Covid-19 grants however should be more straightforward though as they relate to business rates.

But bear in mind there are also other grants and schemes available other than these Covid-19 related additional support grants. More brief details on these other schemes below.

Hopefully these grant awards will be as stress free as possible and there will be minimal intervention required by the claimants. In other words, not too much ‘jumping through hoops’ – if any at all.

But, to be on the safe side, it may be best to make sure you have all the required information available sooner rather than later, whatever grant you may be claiming for.

Stating the obvious, it is crucial that the application ticks all the boxes from the outset. Hopefully the information below and the links to the relevant local authorities will provide all the required information.

Keep reading and you will see the details and the links you need to check to see if your business will be eligible for the Covid-19 related Business Grant Funding and what you will need to do to apply.

Business Grant Funding

Local councils around the country are now starting to take Business Grant Funding applications via their websites. As this is a Chester based website, the main link of interest I imagine will be the link to Cheshire West and Chester Council.

However, I may well get website visitors and readers from further afield. Or a website visitor may live in Chester but their business is located somewhere else not so local to Chester. So, I have also included links to other local authorities near by.

But before heading off straight to the links, let’s first discuss what these Business Grant Funding schemes are.

Business Grant Funding Schemes – What Are They?

It is to be noted that these are new Covid-19 related grants.

The first one to be aware of is a scheme called Small Business Grant Funding. So, what is it?

What Is Small Business Grant Funding?

The government will provide additional Small Business Grant Scheme funding for local authorities to support small businesses that already pay little or no business rates because of small business rate relief (SBRR), rural rate relief (RRR) and tapered relief. This will provide a one-off grant of £10,000 to eligible businesses to help meet their ongoing business costs.

I assume that all local businesses are aware of how the local business rates (National Non Domestic Rates – NNDR) system works.

Before looking at the details and the eligibility requirements of the scheme, if you would like to check the rateable value of your business premises, then have a look at the Valuation Office Agency (VOA) website HERE.

Please note, this is the rateable value. This is not the actual rates charges you pay.

For instance, if you have a property with a rateable value of, say, £15,000, the actual rates you would pay for 2019/20 would be:

£15,000 x 0.491 = £7,365

The figure of 0.491 is the business rates multiplier for properties with a rateable value (RV) of £51,000 or less for the year 2019/20. This multiplier is set by Central Government. The amount of £7,365 therefore is the amount of rates due. (NB this is the amount due before any reliefs are applied).

Eligibility

You are eligible if:

• your business is based in England (using Chester as an example).
• you are a business that occupies property
• you are receiving small business rate relief or rural rate relief as of 11 March.

How to access the scheme

Let’s use Cheshire West and Chester Council (CWAC) as an example:

First off, the link to the Business Rates support information is HERE. If you are already an NNDR business rates payer then much of the basic information should already be available as you are already “in the system” so to speak.

After clicking the “Apply For A Business Grant” link:

Here’s what you will need:

• Company Registration Number (if a limited company).
• Business Rates (NNDR) number (This number should be on any correspondence received from your local authority).
• Copy of a recent bank statement for uploading.
• Evidence of trading on 11th March 2020 (e.g. copies of evidence or utility bill).
• Is the business Vat registered. This is a straightforward “Yes” or “No” question. NB: There was no request for Vat registration number on the page I had access to, but to be on the safe side, have this available if it is requested on subsequent pages as you progress. Other authorities do ask for this at the outset so best to be ready and have it available.

Cash Grant For Retail, Hospitality And Leisure Businesses

What Is This Grant?

First criteria is clear enough. Your business needs to be in the retail, hospitality or leisure sector. If so, you will receive a cash grant of up to £25,000 per property. More specifically…….

• Businesses in these sectors with a property that has a rateable value of £15,000 and under may be eligible for a grant of £10,000.

• Businesses in these sectors with a property that has a rateable value of over £15,000 and less than £51,000 may be eligible for a grant of £25,000.

Are You Eligible?

You will be eligible if:

1. Your business is based in England (again using Chester as an example).

2. Your business is in the retail, hospitality and/or leisure sector

3. Properties that will benefit from the relief will be occupied properties that are wholly or mainly being used:

• as shops, restaurants, cafes, drinking establishments, cinemas and live music venues
• for assembly and leisure
• as hotels, guest and boarding premises and self-catering accommodation

Businesses with a rateable value of £51,000 or over are not eligible for this scheme. 

Business Grant Funding – Other Local Authority Links

The link to CWAC is above in the example used.

See below for other Local Authorities

Click these links and you will see details of the support available and how to make your claim.

Liverpool City Council – Click here

Wirral Borough Council – Click here

Wrexham County Borough Council – Click here

Flintshire County Council – Click here

Denbighshire County Council – Click here

Conwy County Borough Council – Click here

Sefton Council – Click here

Halton Borough Council – Click here

Knowsley Council – Click here

The above provides information about the specific, additional Covid-19 related business grant funding schemes. As I mentioned there are a variety of other grants that may also be available.

Business Grant Funding – Other Possible Grants

These mentioned below are in addition to the two schemes above.

Loan Scheme

The temporary Loan Scheme supports small and medium-sized businesses with access to loans, overdrafts, invoice finance and asset finance of up to £5 million and for up to six years.

Wage Subsidy Scheme

This was one of the first financial assistance schemes to be announced. All UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been laid off during this crisis.

This applies to employees who have been asked to stop working, but who are being kept on the payroll. This is otherwise known as ‘furloughed workers’. HMRC will reimburse 80% of their wages, up to £2,500 per month.   

Self Employment Income Support Scheme (SEISS)

As the title suggests, this scheme is relevant for the self employed businesses, or those in a partnership. For more details of this particular scheme, have a look at the link provided HERE.

Statutory Sick Pay Rebate

The Government will bring forward legislation to allow small and medium-sized businesses to reclaim Statutory Sick Pay (SSP) paid for staff sickness absence due to coronavirus. This refund will cover up to 2 weeks’ SSP per eligible employee who has been off work because of coronavirus.

One of my longer posts. It did take quite some time to put together as there is a lot of information and links to consider. This is how the business grant funding situation currently stands.

However, as this Coronavirus pandemic is an ever moving target, the criteria, availability of other schemes and so on may well change over time.

I do hope though the above does provide local businesses with a good grasp of business support and funding schemes currently available.

Chester Lifestyle Business Support

This may be of interest. In the coming weeks and months virtually all businesses will be facing some big challenges. With that in mind, in due course, I will be writing a post about some of the challenges and what local businesses can do, or maybe should do, to get themselves back on track as soon as possible.

Chester Lifestyle Blog Posts

As I say, a lengthy post but hopefully a useful one. Hopefully it’s been of use. To see all of my other blog posts on a variety of topics, have a look over HERE.

As ever, thank you for visiting my website. I hope you enjoy reading the posts provided.

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