Since the start of the Coronavirus pandemic the Government have introduced a number of schemes to support businesses. Find further information on the support currently available to businesses.
Business Rate Relief
Business rates reliefs will be provided automatically through the Business Rates billing system. Eligible businesses will be sent new bills in due course and any rates already paid for 2020/21 will be refunded.
The Government is applying to the EU to remove any State Aid limits which might otherwise reduce the amount of rates relief that could be awarded.
Small Business Grants
In response to the COVID-19 crisis, the Government announced that properties in the retail, hospitality and leisure sectors with a rateable value of up to £51,000 would be able to receive a cash grant of either £10,000 or £25,000. There was also further funding for Local Authority Discretionary Grants. These grant schemes have closed.
A further £500m Hardship Fund for local authorities was also announced in the Budget which will be used to support individuals struggling financially as a result of the pandemic.
National grants provision from 5 November
The Government have announced further grant funding to support businesses affected by the national lockdown from Thursday 5 November – Wednesday 2 December.
The Local Restrictions Support Grant is for businesses in a rateable value property that are required to close under the national lockdown. During this period a single grant to cover the four-week period will be paid to each eligible business.
The Additional Restrictions Grant will be a discretionary grant to support certain businesses which are not eligible for funding under the Local Restrictions Support Grant (Closed) . The Local Restrictions Discretionary Grant (Immediate) is open for applications until 5pm on Friday 11 December 2020.
The Local Restrictions Discretionary Grant (Immediate) is for those businesses which are not eligible for the Local Restrictions Support Grant and have been impacted by the November 2020 national lockdown. Please do not apply for the Local Restrictions Discretionary Grant (Immediate) if you are a business rates account holder and were required to close under the November 2020 national lockdown. You will need to apply for the Local Restrictions Support Grant
Low-interest Business Interruption Loan Scheme
The Chancellor also announced the availability of low-interest loans of up to £5m, to help small and medium-sized enterprises with their cashflow and other loans for larger businesses. This has been coordinated by the British Business Bank.
The Government has also introduced the Bounce Back Loan Scheme (BBLS) to enable smaller businesses to access finance more quickly during the coronavirus outbreak.
Worcestershire County Council has launched their new Here2Help Business programme response to the COVID-19 pandemic. The £3m programme is designed to assist local Worcestershire Businesses to recover, adapt, develop and support future resilience as lockdown measures reduce.
Worcestershire Business Central
The Worcestershire Business Central website provides a comprehensive overview of local and national help and support. This includes support and funding, work place guidance and webinars.
Subscribe to our Business Newsletter
The City Council's Economic Development Team will be issuing regular updates on business support and advice during the Coronavirus outbreak. You can subscribe to our Coronavirus Business Newsletter here.