Businesses across Babergh and Mid Suffolk are set to receive financial support in the form of grant funding announced in the government’s package of measures designed to help smaller businesses.
The impact of COVID-19 is being felt up and down the country, especially by businesses that have had to close their doors to customers.
In response, the Government has opened a grant fund aimed at helping businesses who are entitled to rate relief or those in the retail, leisure and hospitality sectors.
Babergh and Mid Suffolk are responsible for payment of these grants to businesses and have put in place the systems to manage the grant payments.
All qualifying businesses are now being contacted regarding payment of the grants of either:
• £10,000; if the rateable value of the business premises is £15,000 or less, or
• £25,000 if the rateable value is greater than £15,000 but less than £51,000
Qualifying businesses will receive a letter at their registered business address, but as they may not have access to that premises, the form is immediately available online for all qualifying businesses. To ensure fast payment of this financial support, all these businesses are being asked to complete a short online form to confirm their payment details and eligibility, with payments being made from early April.
Michael Holt, Babergh District Council’s Cabinet Member for Economic Growth, said: “These are unprecedented and difficult times and we urge businesses who receive rate relief to submit their details on the online form to ensure they quickly receive the financial support they are entitled to.”
And Gerard Brewster, Mid Suffolk Council’s Deputy Leader and Cabinet Member for Economic Growth, added: “I am pleased to see that the government is delivering a package of financial support for businesses and that Mid Suffolk and Babergh District Councils, along with our key partners, have worked hard to create new systems and processes in order to distribute the money as quickly as possible.”
Additional information about the package of measures available to both large and small businesses and new details for financial support available for self-employed individuals can be found on our COVID-19 Business FAQs by visiting: www.babergh.gov.uk or www.midsuffolk.gov.uk.
Our FAQs include information about:
- The self-employment support scheme
- Business Rates retail discounts
- Business Interruption Loan Scheme
- Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19
- Coronavirus Job Retention Scheme
Further guidance on a range of business support is available from trained advisors at the New Anglia Growth Hub.