Government has confirmed details about support available to local businesses during the national lockdown.
During the lockdown, all non-essential retail, hospitality, leisure and entertainment venues, and personal care facilities must close from 5 November to 2 December 2020.
In response to this, the Government is providing eligible businesses with financial help through the Local Restrictions Support Grant (LRSG) scheme. This scheme is only be for rate-paying businesses who are forced to close by government as part of the national lockdown.
Local Restrictions Support Grant: There will be a single fixed amount of grant to cover the 28-day period (5 November to 2 December 2020) which will be allocated as follows:
- Properties with a rateable value of £15k or under will receive £1,334
- Properties with a rateable value of over £15k and below £51k will receive £2,000
- Properties with a rateable value of £51k or over will receive £3,000
Businesses with more than one qualifying property will receive a grant for each property. Importantly, if your business received a Covid-19 grant previously, it is not automatically eligible for a grant under this scheme. All businesses will need to complete an application form to claim, which will be available from the Council’s website: www.nelincs.gov.uk/coronavirus under the Information for businesses link. We anticipate the application form will go live next week, and that grant payments will be made at the end of November.
The Government has also provided the Council with further funds (the Additional Restrictions Grant) to help businesses not covered by the LRSG but who will be impacted by the national lockdown.
Additional Restrictions Grant (ARG): The Council will be allocated their grant entitlement for a discretionary fund to allow local authorities to support some other businesses which are severely impacted by business closures. The Council is working up details of this scheme, and full details and eligibility will follow shortly.
In addition to this, if you have staff, the Chancellor has announced that the Government’s Job Retention Scheme (or furlough) is to stay open until March 2021, with employees receiving 80% of their current salary. Full eligibility criteria and how to apply is on the Government’s website www.gov.uk/government/news/furlough-scheme-extended-and-further-economic-support-announced
Two further grants are available for self-employed individuals who were eligible for the original Self-employed Income Support Scheme (SEISS) grants. Further details are on the government’s website: www.gov.uk/government/publications/self-employment-income-support-scheme-grant-extension/self-employment-income-support-scheme-grant-extension
The application deadlines for the Business Interruption Loan Scheme, Bounce back loan and Large Business Interruption Loan Schemes have all been extended to 31 January 2021.