Grant funding of £25,000 for retail, hospitality and leisure
If you have business premises for your retail, hospitality or leisure business and your premises have a rateable value of over £15,000 and less than £51,000 then you may be eligible for a grant of £25,000.
If the rateable value of your premises is up to £15,000 then you may be eligible for the small business grant funding of £10,000.
You are eligible for the £10,000 grant if:
- Your business is based in England
- Your business is in the retail, hospitality or leisure sector
- Your business occupies a property with a rateable value of between £15,000 and £51,000
The examples provided by HMRC are:
- Shops, restaurants, cafes, drinking establishments, cinemas and live music venues
- Properties used for assembly and leisure
- Hotels, guest and boarding premises and self-catering accommodation
Find out the rateable value of your premises
Check the rateable value of your premises as set by the Valuation Office Agency. This isn’t the same thing as the amount of business rates that you pay.
How do I apply for the grant
Originally we were told that eligible businesses would be contacted by their local authority, however a number of local authorities expect you to apply for the grant. If in doubt contact your local authority to check.
When will I receive the grant
The intent was for the funds to be paid out to small businesses in early to mid April. We have started to hear about businesses who have received their grant already, but those are currently in the minority.
If helpful you can access the full guidance from the government.