Stroud District Council receives £26million from Government to distribute to businesses

stroud district council receives 26million from government to distribute to businesses - Stroud District Council receives £26million from Government to distribute to businesses
stroud district council receives 26million from government to distribute to businesses 2 - Stroud District Council receives £26million from Government to distribute to businesses

Stroud District Council has received £26million from the Government which it is distributing to businesses to keep them afloat during the coronavirus pandemic.

The first payments of £6.2million to 621 businesses were paid at the start of this week and payments are expected to be made daily.

Approximately £10million has been paid as of Wednesday, April 8.

The grants are being made from two funds, the first is the Business Support Grant Fund.

All businesses occupying a property and are in receipt of rural rate relief or small business rates relief on March 11, 2020 (including those who receive tapered relief) will receive a grant of £10,000.

The second is the Retail, Hospitality and Leisure Business Grants Fund.

Businesses in receipt of the Expanded Retail Discount (which covers retail, hospitality and leisure) with a rateable value of less than £51,000 will be eligible for the following cash grants per property.

For eligible businesses occupying properties with rateable values on March 11, 2020 of £15,000 or less the grant is £10,000.

For £15,001 to £51,000 the grant is £25,000.

The Government has applied criteria that the grants are only payable to businesses which have a business rates account or are registered, every business eligible for a grant payment has been identified.

Council leader Doina Cornell said:“Clearly this is a very, very difficult time for many businesses and we are acutely aware of the need to make these payments quickly.

“Our staff are working hard to make the payments to all eligible businesses as soon as possible.”

If you are unsure whether your business qualifies, there is further information here bit.ly/3c1hPrR

In a number of cases the council is able to make payments directly, for example where businesses pay their business rates by direct debit.

However in some cases the council will need to take bank account details in order to make a payment.

If this applies to your business, please submit your details on the online portal on this page bit.ly/2JVkmYt

The Small Business Grant Fund and Retail, Hospitality and Leisure Grant Fund come under state aid funding.

Businesses which exceed the associated limits will be required to repay the grant funding.

More information can be found on the Governments State Aid page here bit.ly/2UTUpPF

If you are unable to use the portal, email the business name and address along with the account reference (if known) and a contact telephone number to business.rates@stroud.gov.uk, or call 01453 766321.

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