Shropshire’s small businesses, and businesses in the retail, hospitality and leisure sectors, can apply for Government funding through the coronavirus COVID-19 Small Business Grant Fund, and Retail Hospitality & Leisure Grant Fund.
Funding was provided by the Government to Shropshire Council on Wednesday 1 April 2020 to pass directly onto businesses through these schemes. This is a huge boost for businesses in the county, and a huge undertaking for the council. £91m was received on 1 April, and it is estimated that over 7,000 businesses can access this money, providing they meet the criteria set by the Government. Applications can be made now via the council website – https://shropshire.gov.uk/covid-19-grants
Under the Small Business Grant Fund, all businesses in England in receipt of either Small Business Rate Relief or Rural Rate Relief in the business rates system will be eligible for a payment of £10,000, providing they meet the eligibility rules.
To be included, a business must be eligible for either relief as at 11 March 2020 and have a rateable value of £15,000 or less.
Under the Retail, Hospitality and Leisure Grant, eligible businesses in England in receipt of the Expanded Retail Discount (which covers retail, hospitality and leisure) with a rateable value of less than £51,000 will be eligible for cash grants of £10,000 or £25,000 per property.
Eligible businesses in these sectors with a property that has a rateable value of up to and including £15,000 will receive a grant of £10,000.
Eligible businesses in these sectors with a property that has a rateable value of over £15,000 and less than £51,000 will receive a grant of £25,000.
Businesses that don’t pay into the business rates system are not included in this scheme, and there are some other exceptions.