06 Nov NEW GOVERNMENT GRANTS
TWO SCHEMES MOST RELEVANT TO BUSINESS IN EAST GRINSTEAD
The first one is the National Grant Scheme, which is intended to help cover property costs. If you pay business rates you can get a mandatory grant for every 4 weeks based on your rateable value if you are closed by prescription by the Government:-
The rate of grant payment for eligible businesses will be:
For properties with a rateable value of £15k or under, grants to be £1,334 per four weeks;
For properties with a rateable value of over £15k and below £51k, grants to be £2,000 per four weeks;
For properties with a rateable value of £51k or over, grants to be £3,000 per four weeks.
Please note that businesses and organisations who may qualify for this mandatory grant can do so online at www.grantapproval.co.uk from Monday 9 November 2020. If the lockdown goes beyond 4 weeks businesses and organisations will receive further payments every 2 weeks (for the 2 weekly amounts please refer to the attached guidance).
The Council is expecting to receive the funding from the Government during next week so will start making the grant payments shortly after this.
Additional Restrictions Grant which is a new discretionary grant fund is the second new business grant scheme.
This is a single allocation based on £20 per head of population (ONS 2019 Mid-Year Population Estimates) for each local authority to use to run a discretionary grant scheme, for example to closed businesses that do not have a rateable value or have costs that are significantly higher. Discretionary grants can also be paid to businesses that are severely impacted rather than closed. The allocation can also be used for other direct business support at the discretion of the local authority, for example support for businesses from Growth Hubs. Mid Sussex DC has received just over £3m for this grant fund which is a one off payment to cover the remainder of 2020/21 and 2021/22. There is no decision yet if we will pay the discretionary grant over several different rounds.
Mid Sussex DC hopes to give more details of this discretionary scheme hopefully within the next couple of weeks. This discretionary grant scheme needs to be set up and approved by elected members at Mid Sussex DC. When this scheme opens you can apply online at www.grantapproval.co.uk.