Plymouth’s businesses will now be able to apply for financial support to help get them through the current uncertainties created by the Covid-19 pandemic.
Plymouth City Council is writing to all businesses eligible to receive grants so they can urgently access financial help as soon as possible – with the ambition of making most payments within the next two weeks.
The Small Business Grants Fund, announced by the Government last week as part of a £330 billion package of support, offers a one-off grant to a number of businesses:
- Any business currently in receipt of Small Business Rate Relief may be eligible for a £10,000 cash grant.
- Any retail, hospitality or leisure business with a rateable value of £15,000 or below may be eligible for a £10,000 cash grant.
- Any retail, hospitality or leisure business with a rateable value above £15,000 and below £51,000 may be eligible for a £25,000 cash grant.
Council finance and business staff have calculated that almost 3,500 businesses across the city will qualify for grants of up £10,000, while around 540 businesses will qualify for grants of £25,000.
Council leader Tudor Evans said: “Supporting our local businesses is absolutely a key priority for us right now – these are unprecedented times and we are here to help them through this period of economic shock.
“If your business is eligible to receive a grant, you’ll soon receive a letter from us with more detail about how to apply. We want to get you the financial support that you need as soon possible.”
The letters will include a link to the online application form and a unique PIN, and will be followed up by email. As the Council does not hold businesses bank details, we will need to ask for them and applicants will also need to submit any necessary declarations.
In addition to the grants, all retail, hospitality and leisure businesses in England will receive a 100 per cent business rates holiday for the next 12 months.
Councillor Evans said: “This is a good start, but we need to go further. We need to think about the countless number of tradesmen and women, who won’t be able to work from home, won’t be able to ply their trade as electricians, builders and plumbers.
“They are equally facing an extremely uncertain period and they too, are vitally important to our economy and to our city. They will still have mortgages and bills to pay and families to feed.
“We also have some major manufacturing businesses here, who do not appear at this stage to qualify for extra support. These are factories and work spaces staffed by people equally on edge about what the future holds. We need to keep pushing for any support they can get. We need to do everything possible to shore up the city’s economy during this period of worry and challenge.”
For more information about the business support available from Plymouth City Council, visit investplymouth.co.uk/covid-19.
For more information about business rates, visit plymouth.gov.uk/businesses/businessrates.