We have been asked to share information on business grants currently available to assist local enterprises and traders through the Covid-19 crisis and advise the following resources are available which we would request you share with all Councillors.
The Government have listed a comprehensive list of funding here https://www.gov.uk/coronavirus/business-support and it is a good idea to use these as source documents as they are constantly being updated and added to. There is also a handy self-help tool that will guide you to the most appropriate help available following answers to a few questions see https://www.gov.uk/business-coronavirus-support-finder
Our partner North Devon+ also have a Covid-19 support page here https://northdevonplus.co.uk/covid-19-support/
Grants distributed by Torridge can be found here https://www.torridge.gov.uk/coronavirus
There are two types of grants available at the moment, the first being the Local Restrictions Support Grant (LRSG) and the second being the Additional Restrictions Grant (ARG) and different businesses will be eligible for each one.
The LRSG is available to certain businesses and venues which appear in the rating list and have been be required to close from 5 November to 2 December 2020. For eligible businesses, the amount of LRSG payable is as follows:
- Businesses occupying properties with a rateable value of £15,000, the grant payment will be £1,334 per 28-day qualifying restriction period
- Businesses occupying properties with a rateable value of between £15,001 – £50,999, the grant payment will be £2,000 per 28-day qualifying restriction period
- Businesses occupying properties with a rateable value of £51,000 the grant payment will be £3,000 per 28-day qualifying restriction period
The ARG is available to:
- Businesses which – while not legally forced to close – are severely impacted by the restrictions put in place to control the spread of Covid-19.
- Businesses outside the business rates system, which are forced to close.
- Larger local businesses which are important to the local economy, that feel they would benefit from additional grant money on top of the funding provided to those businesses via the LRSG scheme (State Aid rules apply).
If businesses have further business related queries they can email North Devon+ email@example.com