Grants worth £35.12M have now been paid to 2,979 businesses - but hundreds could be missing out
Grants worth £35.12M have now been paid to 2,979 businesses in South Somerset to provide vital support during the Coronavirus pandemic.
Our team has worked incredibly hard to process all of the applications for the Small Business Grants Fund and Retail, Hospitality and Leisure Grant Fund that we have received to date.
But our records show that there are still hundreds of potentially eligible businesses which have not submitted an application.
Officers have contacted every business we believe could receive a grant and we urge all of those who have not yet applied to get in touch.
Remember, these are not loans – these are grants being provided to support businesses through these difficult economic times.
Who is entitled to the Business Grants?
Small Business Grant fund
If you are eligible for Small Business Rate Relief or Rural Rate Relief as at the 11 March 2020 and your rateable Value is below £15,000 then you may qualify for a Small Business Grant of £10,000.
Small business rate relief is available on one property per business. It is calculated as follows:
- Properties with a rateable value of £12,000 or below are entitled to 100% business rates relief.
- Properties with a rateable value of £12,001 to £15,000 are entitled to a tapering discount from 0% to 100%. This is on the basis of 1% relief for every £30 of rateable value.
Retail, Hospitality and Leisure Grant
If your Business has a Rateable Value of below £51,000 and you are eligible for the expanded Retail Discount as at the 11 March 2020 then you may qualify for a Retail, Hospitality and Leisure grant of £25,000.
The Grant will not be payable where the business is used for personal use, ie private stables. Carparks and parking spaces are excluded. For the avoidance of doubt, businesses which as of the 11 March were in liquidation or were dissolved will not be eligible.