More than 1500 businesses across Bath and North East Somerset financially affected by the latest national lockdown will receive more than £4m in grant support next week.
The latest payments which cover the period up to the 31 March will be transferred to businesses which submitted claims on Monday.
Bath & North East Somerset Council is now urging all businesses to review whether they are eligible for financial support as the deadline for applications to a number of the grant schemes is fast approaching.
Councillor Richard Samuel, deputy leader and cabinet member for Resources, said: “Since the start of the pandemic we have processed more than 9,000 applications and awarded around £50m in financial support to local businesses through the national schemes and local discretionary grants scheme. Without this support many businesses would have struggled to survive.
“There are a number of different grants available and I would encourage all businesses to check whether they have applied for all the support for which they are eligible. It’s important they do this now as the deadline to apply for some of the grant schemes is Wednesday 31 March
“If you have not applied for a grant before and you think you may qualify, please apply as soon as possible. If you would like some help and advice with your application, then contact Our Invest in Bath team.”
Detailed information is available by visiting here.
New grants announced in the budget
The Chancellor announced new Restart grants in the budget on 3 March 2021. These will be one off grant payments to specific business sectors to provide support from 1 April 2021 prior to reopening for business. Local authorities are not able to make these payments before 1 April 2021 and we expect further information shortly.
The council is especially encouraging local business who may not be eligible for the national grants to consider applying for a discretionary grant.
Discretionary grants help businesses that are both open and closed and have been severely impacted due to national restrictions.
To qualify for this grant, your business must be in Bath & North East Somerset and have:
- Been open as usual before the restrictions
- Fewer than 49 employees, or
- Registered for Business Rates but not mandated to close.
One of the following must also apply:
- You are not a business rate payer of the premises you trade from, or occupy, and are required to close (this includes businesses registered for Council Tax).
- Your business is not required to close, but has closed due to a significant impact on trading (this includes business rated and non-business rated businesses).
- Your business is continuing to operate, but with significantly reduced demand due to social distancing rules (this includes business rated and non-business rated businesses).
The Chancellor also announced additional discretionary grant funding for local councils in the Budget Statement. Again, these grants will be payable after 1 April 2021 and we are waiting for further guidance.
To find out about the range of support and advice available to local businesses visit: www.investinbath.co.uk
Find all council services updates at https://beta.bathnes.gov.uk/coronavirus