Useful information to help you deal with COVID-19

We recognise it’s an extremely difficult time for everybody, there’s been a lot of news about the impact on small businesses.

At Clear Methods, we’re always looking for ways to help save you time, so we’ve rounded up the information small business owners need to know.

This information is to help you make good decisions during this difficult period.

Many of you are asking us if your business is eligible for UK Government aid during the coronavirus outbreak. And how and when can you get the money. This post answers your questions about the grants for small businesses.

Crucially, your business is only eligible for a grant if you have a property on which you pay rates. Instead, if you’re self-employed, you might be eligible for the self-employed income support scheme.

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£10,000 grant for small businesses

What is it?

This scheme is called the Small Business Grant Scheme. Via local authorities, it will give grants to small businesses that get small business rate relief (SBBR) and/or rural rate relief (RRR). The Scheme will give one-off grants of £10,000 to eligible businesses.

Is your business eligible?

You’re eligible for a grant under the Small Business Grant Scheme if you match all these criteria:

Your business:

Can’t remember if you get one of these types of rate relief? Check your latest rates bill – the relief is shown on there. Alternatively, ask your accountant or bookkeeper.

How and when do you get the money?

You don’t need to do anything yet. Your local council will contact you if your business is eligible. 

Eligible businesses will get the full £10,000

The Government announced that these grants will be available in early April 2020. To find out exactly when the money will be available, look out for an announcement on the UK Government website or your local council’s website.

£10,000 or £25,000 grant for retail, hospitality and leisure.

What is it?

This scheme is called the Retail and Hospitality Grant Scheme. It will offer a cash grant of either £10,000 or £25,000 per property to businesses in retail, hospitality and leisure. 

Businesses with a rateable value of under £15,000 will get £10,000 

Businesses with a rateable value of between £15,001 and £51,000 will get £25,000

Is your business eligible?

You’re eligible for this grant if your business: 

  • is based in England, and
  • operates in the retail, hospitality and/or leisure sector 

The Government stated that this Scheme is for businesses with properties entirely or mainly used: 

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

Not sure if your business comes under one of these categories? There’s a full list of how the Government define them in this guidance document, pages 5 to 8.

How and when do you get the money?

You don’t need to do anything yet. Your local council will contact you if your business is eligible.

Eligible businesses will get the full £10,000 or £25,000

To find out exactly when the money will be available, look out for an announcement on the UK Government website or your local council’s website.

Can you get both grants?

If your business is eligible for the Small Business Grant Scheme and the Retail and Hospitality Grant Scheme, it seems you’ll get both grants. However this isn’t confirmed yet by the Government.

Your local council are currently organising how to distribute the money and they’ll contact all eligible businesses. They’ll be in touch with you as soon as they can.

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