How are you finding lockdown? Are you still able to work at the moment? How’s that going if so?
From lots of conversations with you, everyone’s in different positions. In the next few weeks, I’ll be focusing on ways to help you sustain, or even grow, your business on the back of the lock down.
I’m thinking of a series of emails & videos along the lines of Isolation Inspiration, so if you’re doing something which is inspiring at the moment, let me know! In fact, let me know anything different you’re doing in your business as a result of the lockdown. It might not feel inspiring to you, but it probably will to others.
For now, there’s still a lot of questions. So I want to spend the next few days focusing on what help there is out there and how you can access it.
Today, I’m focusing on cash grants and making sure your business has enough finance in the medium to long term.
Small business cash grant – £10,000 to £25,000 on the table!
The comment I’ve heard the most is that businesses don’t want to claim it as they don’t want to pay it back.
I’ll be really clear about this – If you’re eligible, claim it! You don’t need to repay it.
Who can claim it?
If the following apply, you’ll get it –
- Your business is based in England
- You are a business that occupies property
- You are receiving small business rate relief or rural rate relief as of 11 March – this means you’re probably not paying rates. Or if you are, your rateable value is under £15,000
If you qualify, your local authority will pay £10,000 direct to your bank account. If you’ve not already, check their website and call them if you can’t find anything on it.
If you operate in retail, hospitality or leisure and your rateable value is between £15,000 & £51,000 the grant is up to £25,000.
If you operate from home, or don’t have a business premises, you can’t claim the grant. We also think it will be taxable.
I’ve done a video here discussing the grant.