The owners of small businesses that occupy shared premises in West Suffolk, have just one week left to apply for a £10,000 grant.
Landlords of business centres and other properties shared by small businesses are asked to make sure their tenants have applied for the grant before the June 30 deadline passes.
West Suffolk Council launched its grants scheme late last month after successfully lobbying the government for extra support for small businesses not eligible under the Small Business Grant Fund or Retail, Leisure and Hospitality Grant.
The council’s scheme has been shaped in line with the government guidance which prioritises small businesses in shared premises, as well as bed and breakfasts, market traders and charities.
West Suffolk has a limited allocation of just under £1.9 million for the grants and has already paid out more than half of this to businesses and organisations whose incomes have been severely affected by the pandemic.
Leader of West Suffolk Council, John Griffiths, said: “We already know through our many conversations with small businesses that these grants have helped save several from going to the wall and some employers from having to lay off their staff. They are helping to make the difference for many small businesses and the people that they employ. We of course recognise that there are a great many businesses who still do not qualify for support and we have again taken up their case with the government.
“In the meantime, we want to ensure that eligible small businesses are aware of this and take up the grant while it is still available. After the deadline, we will review the applications, make the final payments and see what funds if any are left to consider allocating to other categories of business, although we unfortunately do not expect to have much left for this.”
Grants of £10,000 are available to small businesses operating in shared offices or other fixed workspaces including units on industrial or science parks, and incubators, where they do not have their own business rate assessment. Charities may also be eligible for help of up to £10,000.
To be eligible, the overall property they operate out of must have had a business rates valuation before March 11.
For small businesses, they will only be eligible if their premises would have a rateable value equivalent to under £15,000 if it were rated separately.
For businesses in Retail, Leisure or Hospitality, their premises will only be eligible if they would have a rateable value equivalent to under £51,000.
Bed and breakfast owners who pay council tax but not business rates will receive between £1,000 and £2,000 depending on the number of bed spaces they provide. All qualifying market traders have been paid their grant.
Eligible businesses are asked to complete the appropriate form by the end of next Tuesday, June 30. This can be found at https://www.westsuffolk.gov.uk/coronavirus/covid-19-support-for-business.cfm
Meanwhile the council has also paid out £35m under the government’s Small Business Grant Fund and the Retail, Leisure and Hospitality grant, while it also awarded £34m in Business Rate Relief to qualifying businesses.