Businesses that are the main rate payer of business rates can be eligible for grant support of between £10,000 and £25,000 and may miss out on vital financial support if they do not apply by the end of April.
Written on April 6, 2020 by Xeinadin Group
It is vital that eligible businesses contact their Local Authority to apply for a grant. Funding is available for eligible companies but councils administering schemes may not have contact details for businesses, many of which are temporarily closed due to coronavirus.
- The Small Business Grant Fund (SBGF) will provide businesses with a grant of £10,000 to help support them during the Covid-19 crisis. This grant is for businesses, with a property, that as of 11 March 2020, were in receipt of Small Business Rates Relief or Rural Rates Relief.
- The Retail, Hospitality and Leisure Grant Fund (RHLGF) will offer businesses in these sectors across Greater Manchester a grant of up to £25,000. This grant is for businesses in those sectors with a rateable value of less than £51,000 and who would have been eligible for the Expanded Retail Discount Scheme. For businesses with a rateable value of £15,000 or less the grant will be £10,000. For businesses with a rateable value of £15,000-£51,000 the grant will be £25,000.
Businesses need to apply via the Local Authority where they are located, with links provided here for each of the 10 Greater Manchester boroughs.
- Bolton – click here.
- Bury – click here.
- Manchester – click here.
- Oldham – click here.
- Rochdale – click here.
- Salford – click here.
- Stockport – click here.
- Tameside – click here.
- Trafford – click here.
- Wigan – click here.
Mayor Andy Burnham, along with Greater Manchester Local Authority leaders, members of the Greater Manchester Local Enterprise Partnership, and the Growth Company, is working to ensure that businesses are accessing the support that is available for them.
Mayor Andy Burnham said: “Colleagues in all of Greater Manchester’s Local Authorities are working flat out to get this money out to businesses who so desperately need it to survive. I would encourage you to apply if you think you might be eligible. We think there are more businesses eligible than have yet applied and we want to make sure this support reaches those businesses who need it.
“We know there are some gaps in the grant scheme available, such as for small firms that operate from shared working spaces. I am working closely with local leaders to raise these gaps with Government and to ensure the Chancellor delivers on his commitments to do whatever it takes to support businesses and hard-working citizens through this crisis.”
Lou Cordwell and Mo Isap, co-chairs of Greater Manchester Local Enterprise Partnership, said: “We know there has been some confusion about the grants available to businesses but we urge any small business that are the main business rate payer and so may be eligible to get in touch with their Local Authority as soon as possible.”
In addition to Local Authority grant funding, £3m of loan funding is available for qualifying businesses via the Coronavirus Business Interruption Loan Scheme for Greater Manchester.
Greater Manchester LEP, working with the Growth Company, has unlocked an initial £3m package of urgently needed financial support for Greater Manchester businesses via the Coronavirus Business Interruption Loan Scheme for Greater Manchester. Administered by GC Business Finance (GCBF), the Coronavirus Business Interruption Loan Scheme (CBILS) for Greater Manchester is now ready to provide loans of between £5,000 and £250,000 to qualifying companies. To find out more, visit GCBF.