Businesses Encouraged to Access Coronavirus Funds
Businesses across Greater Lincolnshire and Rutland are being encouraged to provide contact details to their district council or unitary authority if they think they are eligible for financial support to help them through the COVID-19 pandemic.
A new advice page has been published on the Business Lincolnshire website with links to the councils that should be contacted depending on where your business is based.
The page can be found at: https://www.businesslincolnshire.com/explore/building-business-resilience/resources-for-coronavirus-support/covid-19-funding-and-support-for-businesses/
Councils have written to thousands of businesses across our area that are eligible for these funds:
Small Business Grants Fund
Small businesses that pay little or no business rates and are eligible for small business rate relief or rural rate relief will receive a £10,000 cash grant.
Retail, Hospitality and Leisure Business Grants Fund
If you run a business in the retail, hospitality or leisure sector and your premises have a rateable value under £15,000, you will receive a grant of £10,000.
If you run a business in the retail, hospitality or leisure sector and your premises have a rateable value between £15,001 and £51,000, you will receive a grant of £25,000.
These are grants, not loans, and do not need to be paid back.
To be eligible your business must be:
- based in England
- receiving small business rate relief or rural rate relief
- in an occupied property as of 11th March 2020 that is wholly or mainly being used
- neither liquidated nor dissolved as of 11th March 2020
Councils are aiming to start releasing the grants from 1st
April 2020 and will be paying them in tranches, so not all will be paid immediately.
While councils have written to eligible businesses, some businesses may not appear on the council’s database or the business owner might not be at the relevant address, so it is important to visit your council’s website and complete the form, even if you do not receive a letter or email.
Businesses eligible for the business rates holiday will receive revised bills soon so there is no need to contact the council about this.
The local authorities administering the financial support are:
- Boston Borough Council
- City of Lincoln Council
- East Lindsey District Council
- North Kesteven District Council
- North Lincolnshire Council
- North East Lincolnshire Council
- Rutland County Council
- South Holland District Council
- South Kesteven District Council
- West Lindsey District Council
To find out how to access financial help visit: https://www.businesslincolnshire.com/explore/building-business-resilience/resources-for-coronavirus-support/covid-19-funding-and-support-for-businesses/
Notes for editors:
- The information can be found on the Business Lincolnshire website.
- Business Lincolnshire is the business advice and support arm of the Greater Lincolnshire Local Enterprise Partnership.
- The Greater Lincolnshire LEP was set up in 2010 and works with businesses and local authorities to develop and grow Greater Lincolnshire’s diverse economy.
- It is a public / private partnership led by the private sector.
- It works with central Government and the private sector to invest in infrastructure, skills, innovation and productivity.
- More than 100 businesses are involved in its strategies, and 80 business people sit on its boards.
- The LEP has an ambitious and balanced strategic economic growth plan for Greater Lincolnshire.
- The LEP’s six priority sectors are agri-food, the visitor economy, manufacturing, logistics, health and care and low-carbon energy.
- The LEP has invested £307 million in local economic growth schemes in Greater Lincolnshire since 2014.
- The Greater Lincolnshire LEP covers an area including North Lincolnshire, North East Lincolnshire and the administrative county of Lincolnshire and is led by a LEP board made up of leading figures in the public and private sector.
- To find out more visit www.greaterlincolnshirelep.co.uk or follow the LEP on Twitter @greaterlincslep, Facebook or LinkedIn.
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