Many Stafford Borough businesses in the hospitality, retail and leisure sector could be in line for a new one-off top up payment announced by the Chancellor this week.
Up to £9,000 will be available to businesses that have been forced to close because of Government Covid-19 restrictions – with the payments based on their rateable value.
Stafford Borough Council say the Government has indicated that the qualifying criteria for the grants will be issued next week – and as soon as this has been received the authority will look to make payments to all eligible businesses they hold details for so they won’t need to apply.
The Borough Council has already distributed more than £26 million in grants to hundreds of local businesses who have suffered financial hardship during the pandemic. For more information about support available go to www.staffordbc.gov.uk/business-support-coronavirus
Other financial support is already being rolled out to eligible businesses who have been shut due to restrictions brought in when the borough went into Tier 4 level on New Year’s Eve. Those businesses who previously received the ‘Local Restrictions Support Grant’ - having been forced to close in November - will automatically get the fortnightly payments.
Chancellor Rishi Sunak announced the new £4 billion package of one-off top up grants on Tuesday (5 January) which will be:
- £4,000 for businesses with a rateable value of £15,000 or under
- £6,000 for businesses with a rateable value between £15,000 and £51,000
- £9,000 for businesses with a rateable value of over £51,000
The council will be contacting eligible businesses soon.
Councillor Mike Smith, Cabinet Member for Resources, said: “I’m pleased that more money will be available to some of the most hardest hit businesses – especially in the hospitality, retail and leisure sector – but we are also aware that some will again slip through the net and we want to encourage them to get in touch to find out what other support is available.
“Although this new package of measures was announced this week, we are calling on the Government to ensure details around the criteria for the payments are supplied to local authorities quickly so we can get the money distributed as soon as possible.”
He added: “We have already distributed more than £26 million to our local businesses during the lockdown periods which we know has helped so many survive through these difficult times. The 100% Business rates relief for the retail, hospitality and leisure sector and the limited discretionary fund we have available have also served to support the sector.”
But I would urge people to visit our businesses advice pages or get in touch with us to find out about other ways we can help.”
Press Release No 5719