The Federation of Small Businesses (FSB) calls on the Government to offer more economic support to small and medium enterprises (SMEs) as coronavirus-related limits continue and fewer financial packages are being handed out. Continue reading
More than 5,000 organisations have now benefitted from the Culture Recovery Fund, new figures have revealed.
Some 2.8 million people took advantage of the Self-Employment Income Support Scheme (SEISS) in the last year, the latest figures have revealed.
Businesses in the non-essential retail, hospitality, leisure, personal care and accommodation sectors can now access one-off cash grants of up to £18,000 from their local council.
The Restart Grant scheme opened nationally on 1 April 2021 and is now being rolled out by local authorities across England.
Eligible businesses will be paid:
- a one-off grant of up to £6,000 in the non-essential retail sector
- a one-off grant of up to £18,000 in the hospitality, accommodation, leisure, personal care and gym sectors.
Your business may be eligible if you are:
- Based in England
- Pay business rates
- In the non-essential retail, hospitality, accommodation, leisure, personal care or gym sectors
- Trading on 1 April 2021 (this includes businesses currently closed due to restrictions).
However, you may not be eligible if your business:
- Is in administration, insolvent or has been struck off the Companies House register; or
- Has exceeded the permitted subsidy allowance
It is down to each local councils’ discretion, as to whether a business meets the eligibility criteria for this grant scheme.
To apply you will need to find your relevant local authority by clicking here.
If you need assistance with claiming this grant or you are unsure of your eligibility, please speak to our team.
More than £7.8 billion in grant funding has been delivered to small businesses through local authority grant schemes, it has been revealed.Continue reading
As many as one in five small businesses and sole traders are not entitled to financial support under the Government’s coronavirus support package, it has been revealed.Continue reading
The Government is being urged to extend emergency coronavirus support in the upcoming Budget with a recent study warning that businesses face a £50 billion shortfall when the support measures end in April 2021.Continue reading
The Chancellor, Rishi Sunak, has announced a package of one-off grants worth between £4,000 and £9,000 for businesses in the retail, hospitality and leisure sectors, following the announcement of a nationwide lockdown in England lasting until at least mid-February.
The new scheme will be accessed through local authorities and offers funding based on the rateable value of a closed business’s premises:
- £4,000 for businesses with a rateable value of £15,000 or less;
- £6,000 for businesses with a rateable value of between £15,000 and £51,000; and
- £9,000 for businesses with a rateable value of over £51,000.
This funding comes in addition to the existing Government business support schemes, including grants of up to £3,000 a month for closed businesses.
The Chancellor has also announced a further £594 million for local authorities and the devolved administrations to support businesses that are not eligible for the new grants. The devolved administrations will additionally receive equivalent funding to the main grants to distribute as they see fit.
The Chancellor said: “The new strain of the virus presents us all with a huge challenge – and whilst the vaccine is being rolled out, we have needed to tighten restrictions further.
“Throughout the pandemic we’ve taken swift action to protect lives and livelihoods and today we’re announcing a further cash injection to support businesses and jobs until the spring.
“This will help businesses to get through the months ahead – and crucially it will help sustain jobs, so workers can be ready to return when they are able to reopen.”
For more information about the support available to businesses during the pandemic, please visit the Coronavirus hub on our website.
Pubs that principally serve alcohol in tier two and three areas are set to receive additional financial support over the Christmas period following an announcement by the Government.Continue reading
Self-employed workers’ profits must be “significantly reduced” in order to claim the third instalment of the Self-Employment Income Support Scheme (SEISS), it has been revealed.Continue reading