Business Grant Scheme Update

Scheme 1 – Business Support Grants Fund

This scheme is the scheme originally announced in the budget on the 11th March 2020, albeit the level of grant has increased from £3,000 to £10,000

The current proposal is that all properties in receipt of rural rate relief or small business rates relief on 11th March 20210, including those in receipt of tapered relief (eg with RV of £12k to £15k), will be eligible for a grant payment of £10,000.

There are certain exceptions to this – I will email you again when the guidance is published as expected by the Government tomorrow (Monday 23rd March 2020).

Scheme 2 – Retail, Hospitality and Leisure Business Grants Fund

Announced by the Chancellor on the 17th March 2020 the current proposal is that properties which would have qualified for retail or rural rate discount on 11th March 2020 will be entitled to a grant of either, £10,000 where the RV is £15,000 or less or £25,000 where the RV is greater than £15,000 and less than £51,000.  No one with an RV of £51 or above getting the retail relief will qualify for the grant.

I will again make you aware of the full criteria when it is published by the MHCLG.

 

This will be an intensive exercise for the Council as we intend to contact all eligible businesses this coming week (by email where we have it or letter) to get updated bank details where it is required so we can make the payments as early as possible when we get the government funding on the 1 April 2020 (as Small Business Rate Relief gives 100% relief and businesses have not paid for a number of years we do not retain the bank information on our records for a large number of businesses).  We will communicate further regarding this – if we could please have your help in getting businesses in Mid Sussex to respond to such a request (if they receive it) on return that would really be appreciated.

We fully understand the position that businesses are current facing with COVID19 so we are committed at Mid Sussex DC to getting these grants out as early as humanly possible in April 2020.  It is our intention to make the business grants payments by BACS.

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