East Riding of Yorkshire Council is working to support businesses in the area during the current period of hardship caused by the coronavirus lockdown.
The council is updating its website for traders to let them know that even more businesses will now benefit from Government grants and business rates relief – and that payments will be sent out as soon as possible from 1 April 2020.
Last week the council sent out letters to more than 5,800 businesses in the area to inform them of the new Government grant funding schemes available.
So far there have been more than 4,000 applications returned by businesses for the £10,000 Small Business Grant, available to businesses with a rateable value up to £15,000.
The council’s website has been updated to inform thousands more businesses that may be eligible for the new £25,000 grant available to firms in the retail, hospitality and leisure sectors with a rateable value of over £15,000 and less than £51,000.
Funds are expected to arrive from central Government from 1 April, and the council intends to make grant payments to eligible business from this date onwards.
As part of additional support measures at this time, the council is currently processing changes to the Retail Relief scheme which will mean all retail, leisure and tourism properties will pay no business rates in 2020-21, regardless of their rateable value.
The existing Retail Relief scheme previously covered retail properties only, with a rateable value up to £51,000.
But the Government has widened the Retail Relief scheme to include the leisure and tourism industry, including hotels, cafes, restaurants, nightclubs and gyms, and the £51,000 rateable value ceiling has been removed.
All those businesses affected will receive a revised rates bill to confirm that they will not need to pay any rates for 2020-21. Those businesses that pay by Direct Debit and now qualify for the relief will not have a payment taken.
Gillian Barley, head of revenues and procurement at East Riding of Yorkshire Council said: “Our staff are working hard to provide the area’s businesses with some much-needed support at this difficult time, and we will be extremely pleased when we can get those vital business grants paid to those in need as soon as possible.
“Many more premises will not pay business rates this year which will also be a huge help at this time.
“We will continue to keep businesses informed of any further support or changes as they happen, either directly or via the council’s website and social media channels.”
For more information on the grants and Rate Relief, visit the council’s website: https://www.eastriding.gov.uk/business/business-rates/billing-business-rates/
Meanwhile, the council’s business support team is working alongside the Humber Local Enterprise Partnership and all its partners to pool information on the issues affecting businesses, share resources and ensure businesses can access support.
The central point of access for business support in the Humber region is the Humber Business Growth Hub.
The Growth Hub brings together information on all support initiatives and can answer questions and signpost to the most appropriate help.
To access support businesses can contact growth.hub@humberlep.org.
To keep up to date with the latest developments, visit the Growth Hub website at www.humbergrowthhub.org/covid-19
