Grants of £19m awarded so far to support Telford and Wrekin businesses
Telford & Wrekin Council has approved over 1,600 applications totalling £19m for business support grants in response to coronavirus, from small businesses and businesses in the retail, hospitality and leisure sectors.
The Council has been able to approve the vast majority of business grant applications, after the Council’s Revenue’s team have worked extremely hard since receiving the funding from the Government at the start of April.
The team are processing applications as quickly as possible so borough businesses can get this much needed support during the coronavirus pandemic.
It comes after the Government announced at the end of March a series of business grants available and the Council has been supporting and assisting eligible businesses to apply for them.
This is in addition to a number of other support measures available for borough businesses, including the deferral of payment of business rates, all of which can be found on the Council’s Coronavirus webpage.
In total, the Council expects that up to 2,400 businesses could be eligible to apply for these grants and any business that thinks that they meet the Government’s strict criteria and has yet to apply can do so online at www.telford.gov.uk/businessgrants
Council Leader Shaun Davies said: “We continue to do all we can to process grant applications to get these payments to businesses as quickly as possible, as we know this is desperately needed in this challenging time.
“We are delighted that as a result of this and with 90% of applications processed to date being approved, we are among several local authorities in the country who have already paid over 50% of the total government grant payments to local businesses.
“We ask those businesses with outstanding grant applications to bear with us as verifying some applications is a complex process that may require further information from businesses in some cases.
“We encourage all businesses to keep up-to-date with a range of local measures to support them as well as with the government measures, at www.telford.gov.uk/coronavirus”
Details about the Government grants available
Small Businesses – a grant of £10,000
• Business properties with a rateable value below £15,000 which are currently in receipt of small business rate relief or rural rate relief
Retail, Hospitality and Leisure businesses – a grant of either £10,000 or £25,000.
Guidance issued on 30.03.20 has extended this grant to charities.
Properties with a rateable value below £51,000 in the retail, hospitality and leisure sector are entitled to claim a grant as follows:
• Properties with a rateable value below £15,000 are entitled to a grant of £10,000
• Properties with a rateable value over £15,000 but below £51,000 are entitled to a grant of £25,000
There are certain exclusions to the grant:
• Properties occupied for personal use such as private stables or moorings
• Car parks and parking spaces
• Businesses in liquidation or dissolved as at 11th March 2020
• Properties with a rateable value over £51,000