New support for businesses in the Retail, Leisure and Hospitality sectors has been announced as national restrictions are gradually lifted, with local authorities responsible for paying out the grants.
A new £5 billion Restart Grant scheme has been announced for businesses in England, providing a one off cash grant of up to £18,000 per premises. This is intended to help businesses relaunch trading as restrictions begin to lift throughout the upcoming months.
In addition to this, Government has announced an extension to the business rates holiday until June, and a discounted rate thereafter.
Which businesses are eligible?
Support will be available to businesses that operate in the Retail, Hospitality and Leisure sectors which pay business rates on the property they occupy, and have been forced to close due to lockdown restrictions but will soon be allowed to reopen as part of the roadmap out of lockdown.
Guidance on the sector that specific businesses are categorised as can be found here on the government website.
Businesses likely to be eligible for support include:
- Non-essential shops
- Hairdressers and beauty salons
- Pubs, clubs, bars, cafes, and restaurants (may include those forced to close but still able to provide delivery or take-away services)
- Hotels and other accommodation businesses
What support will be available?
Grants available will be as follows:
|Industry||Grant Available (per Premises)|
|Non-essential retail||Up to £6,000|
|Hospitality, accommodation, leisure, personal care and gym businesses||Up to £18,000|
The amount available will depend on the rateable value of the business premises, in line with previous support.
Grants will be made available from April by local councils and will replace the monthly support grants which shall continue to be provided for certain closed businesses until the end of March.
Business rates holiday
Additional support is available in the form of an extension to the business rates holiday until June 2021. This will offer 100% business rates relief from April 2021 for eligible businesses with retail, hospitality and leisure properties in England.
Thereafter, business rates will be discounted at 66% up until March 2022.
How and where to apply for the new restart grants
As with previous grants, businesses should apply through their local council website (when details are released).
- Sheffield City Council
- Rotherham Metropolitan Borough Council
- Doncaster Council
- Chesterfield Borough Council
Local Authorities are awaiting further guidance from Government and we advise businesses to regularly check the relevant links above for further details and updates on accessing this support.
Please do not hesitate to get in touch with your normal Shorts contact to talk any of the above through in more detail.