Restart Grant Explained And Are You Eligible

frankp57By
Mar-30-2021
Business and Finance, Chester Businesses
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As anyone who runs a business will know, the last 12 months have been incredibly trying to say the least. Businesses from so many sectors and niches have sadly bitten the dust. Who would have thought we would ever see the end of Debenhams (Browns of Chester) from the Chester high streets? And John Lewis as well. And so on. Financial support has been available but for some not enough, or a case of not fitting the required criteria. Or too little, too late. Nevertheless, support has been made available in the form of grants. And here’s another one to tell you about. As from 1st April, certain businesses can apply for a Restart Grant.

Restart Grant Explained And Are You Eligible?

So what exactly is the Government’s Restart Grant? Here’s a quick summary:

“The scheme provides funds to help retail, hospitality, accommodation, leisure, personal care, and gym businesses relaunch their operations. As the nation re-opens after lockdown, Restart Grants are available to give hard-hit businesses a healthy running start.”

Right, I hope that gives you a clear picture.

To find out about the Restart Grant in more detail however, continue reading.

Restart Grant – In More Detail

In his 2021 Budget, announced on 3 March, the UK Chancellor, Rishi Sunak rolled out a £65 billion three-point plan to: “Provide support for jobs and businesses as we emerge from the pandemic and forge a path to recovery”.

The Chancellor went on to announce that his immediate priority “continues to be supporting those hardest hit.” This involves extensions to the furlough scheme, financial support for more self-employed people, business grants, loans and VAT cuts. These proposals bring the Government’s total fiscal pandemic support to more than £407bn (source: HM Treasury).

What is the Restart Grant?

The announcement of the Restart Grant will be such welcome news for so many small firms. During his latest Budget speech, the Chancellor announced a new £5 billion Restart Grant scheme. It is available to certain businesses in England and it is is intended to “help the High Street”.

One Off Cash Grant

Restart Grants are a one-off cash grant available from April 2021 to those really hard-hit businesses that have suffered so much. Businesses in the hospitality, accommodation, leisure, personal care (ie hairdressers and beauty salons) and gym businesses in England that have premises and are trying to reopen and get back on their feet following the latest lockdown.

The Restart Grant scheme will replace the, closed, monthly Local Restrictions Support Grant and Local Restrictions Support Grant (Open), which will both end at the end of March.

The Restart Grant scheme, which starts in April 2021, is scheduled to cease on 21 June 2021. This is to coincide with when the government plans to lift all lockdown restrictions in England.

Who Does and Who Doesn’t Qualify for the Restart Grant?

To be eligible for the Restart Grant, take a look at this checklist. Your business must:

Your business must be based in England.
Operate from property on which it pays business rates.
Have been forced to close because of the national lockdown from 5 January 2021 or between 5 November and 2 December 2020
Have been unable to provide its normal in-person customer service from its premises.

On the minus side, your business won’t be eligible if:

It is not based in England
You have continued to operate during national lockdown periods. A specific instance of this rule would be if because you don’t need to provide in-person customer services from your premises
You have actually chosen (not been forced) to close. In other words, you haven’t been required to as part of national restrictions.
Your business is in administration, insolvent or has been struck off the Companies House register.
Or you have already reached the permitted subsidy limit.

In addition, local authorities in England will also get an extra £425m to distribute grants to businesses that are not eligible for Restart Grants, yet are still severely affected by Covid lockdown restrictions.

Restart Grant – How Much is Available?

It is estimated that almost 700,000 small-business owners could benefit. More specifically, “non-essential retail businesses” may be able to get up to £6,000 per premises through the scheme. Such shops, or outlets, won’t be able to reopen in England until 12th April.

Those due to open later than 12th April in hospitality, accommodation, leisure, personal care and gyms, can receive up to £18,000, depending on their rateable value.

Restart Grant and How to Apply

If you believe that your small business is eligible to apply for the Restart Grant, you will need to visit Cheshire West and Chester Council’s (CWAC) website for more information. This is because CWAC are the authorising body given the responsibility to distribute the grant funding.

This link HERE will take you through to CWAC’s “Financial Support for Businesses” page. Full details of the Restart Grant are not yet on the page, but CWAC expect details to be available – including details of the grant application process – by 1st April (Thursday of this week).

However, if you happen to be reading this and you are not from Cheshire West and Chester Council area, you can find your own local authority link by checking this Government website HERE. Just enter your postcode and follow the link.

Thanks for reading my latest blog post – “Restart Grant Explained And Are You Eligible.” A very important post to be aware of and take action on under the current circumstances. It could well be the “leg up” you need to get going again.