More help is at hand for local businesses impacted by the current lockdown in the form of two new council grants made available by the Treasury.
Bucks MPs have worked with the council to ensure as wide reaching a scheme as possible to help Bucks businesses.There are two new Bucks Business Grants. The Local Restrictions Support Grant (LRSG) is for businesses that are required to close because of the national restrictions and it is linked to the level of rateable value.
A business may qualify for financial support for the duration of the current lockdown with further support if restrictions are extended. For other businesses who do not meet the eligibility criteria for the LRSG, the Additional Restrictions Grant (ARG) will provide support. The ARG is open to businesses which have been adversely impacted by the latest lockdown restrictions but are not eligible for other government support schemes. The ARG offers a one-time grant allocation based on the number of employees.
Greg said: “Bucks MPs and councils have worked extremely hard to come up with schemes that help as many businesses as possible impacted by the current lockdown. We are trying to throw a lifeline to as many in the constituency as possible.”
Cllr Martin Tett, Leader of the Council, added: “These grants will help eligible local businesses meet expenses and keep them going through this lockdown. As well as providing support for individual businesses this also means a helping hand for Buckinghamshire’s economy. Please do take a look at our website to see if you are eligible and to apply. As they are grants and not loans, they do not need to be repaid.”
Local Restrictions Support Grant
This grant is available to eligible businesses that are required by government to close during the current national restrictions, from Thursday 5 November to Wednesday 2 December, or until restrictions are lifted. Eligible businesses include those in non-essential retail, leisure, entertainment, personal care and hospitality. Payments are based on the rateable value of the business property:
· For properties with a rateable value less than £15,000 the grants are £1,334 for the 28-day restriction period
· For properties with a rateable value between £15,000 and £51,000 the grants are £2,000, and
· For properties with a rateable value higher than £51,000 the grants are £3,000.
Two payments will be made, each covering a two-week period. Applications will be accepted while national restrictions remain in place.
To check eligibility and to apply, go to https://www.buckinghamshire.gov.uk/coronavirus/coronavirus-business-support-hub/coronavirus-business-grants/local-restrictions-support-grant/
Additional Restrictions Grant
If your business does not qualify for the LRSG but has been severely impacted by the lockdown, you may qualify for the Additional Restrictions Grant. This is a discretionary scheme which the council will run. Charities can apply to the Bucks council discretionary scheme.This grant is aimed at providing support to businesses that have not been able to access other government support initiatives.
Businesses will be eligible if they can evidence a 30% reduction in their income over the lockdown period, provided they aren’t already eligible for the LRSG. Self-employed people can apply if they meet these criteria and are not already claiming from the Self-Employment Income Support Scheme (SEISS).
The amount awarded will vary based on the number of employees in a business:
· Self-employed people (not already claiming SEISS) will be eligible for grants of £1,000
· Businesses of fewer than five employees will be eligible for grants of £1,500
· Businesses of five or more employees will be eligible for grants of £3,000.
Applications for this scheme can be made at the above web address and will be accepted until Friday 18 December.
