To help UK businesses, the chancellor has introduce an unprecedented government intervention package to support the British economy through the coronavirus outbreak. On the 17th of March 2020, Rishi Sunak outlined £330bn in state loan guarantees and £20bn in fresh tax reliefs and grants that would be available for businesses. This increase the small business coronavirus cash grant from 3,000 to 10,000.
The eligibility is based around rate relief, depending if you qualify for Small Business Rate Relief (SBBR) or Rural Rate Relief you will be able to get the funding. Unfortunately, funding is only available until April, as stated on the government website.
Around 700,000 businesses in England currently eligible for Small Business Rate Relief (SBBR) or Rural Rate Relief can apply for the emergency funding.
How to apply?
The Department for Business, Energy & Industrial Strategy will be working closely with local authorities and will contact businesses , once everything is running smoothly. So you can relax and wait till you get contacted, you don’t need to apply. From the 1st april local authorities will already have guidance and they will be in touch personally with details on how to claim the grant.
You can find your local authority here.