Businesses urged to get ready for restart business grants
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Torbay businesses will be able to apply for the new Government restart grant which will be available soon, to help reopen safely as Covid-19 restrictions are lifted.
The Restart Grant scheme supports businesses in the non-essential retail, hospitality, leisure, personal care and accommodation sectors.
Eligible businesses in the non-essential retail sector may be entitled to a one-off cash grant of up to £6,000.
Eligible businesses in the hospitality, accommodation, leisure, personal care and gym sectors may be entitled to a one-off cash grant of up to £18,000.
Unlike the previous grants, where we were able to make repeat payments to successful applicants, businesses must submit a short application to confirm their eligibility for the restart grant.
Torbay Council has undertaken several rounds of funding now, so is confident it can administer grants to local business quickly.
Many businesses will be familiar with the current online application forms but the council also knows others have never applied.
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A council spokesperson said: "This money is available to help businesses get back on their feet, open their doors and start their road to recovery so I urge every ratepaying business to apply now."
Non-essential retail premises will receive one-off grants of up to £6,000. Businesses occupying hereditaments (properties) with a rateable value of:
a) Exactly £15,000 or under on April 1 will receive a payment of £2,667
b) Over £15,000 and less than £51,000 on April 1 will receive a payment of £4,000
c) Exactly £51,000 or over on April 1 will receive a payment of £6,000.
Hospitality, accommodation, leisure, personal care and gym business premises will receive one-off grants of up to £18,000. Businesses occupying hereditaments (properties) with a rateable value of:
a) Exactly £15,000 or under on April 1 will receive a payment of £8,000
b) Over £15,000 and less than £51,000 on April 1 will receive a payment of £12,000
c) Exactly £51,000 or over on April 1 will receive a payment of £18,000.
Ratepaying businesses will also benefit from business rates relief as follows:
Business rates relief for retail, hospitality and leisure
The relief for retail, hospitality and leisure scheme has been extended until Wednesday, June 30, at 100 per cent relief.
Relief from Thursday, July 1 to March 31, 2022, will be at 66 per cent relief. Eligible businesses will have this indicated on their 2021/22 bill.
Business rates relief, other sectors
The Government has announced business rates relief for businesses outside the retail, hospitality and leisure scheme. No further details have been released.
Discretionary grants for those not eligible for the restart grant and rates relief will also be available again, during April.