Small business grant funding of £10,000
If you have business premises and pay little or no rates because of small business rate relief or tapered relief then you are entitled to a one-off grant of £10,000.
Which businesses are eligible
You are eligible for the £10,000 grant if:
- Your business is based in England
- Your business occupies a property on which business rates are payable
- You receive small business rate relief (or rural rate relief) as of 11 March
Find out the rateable value of your premises
Small business rate relief or tapered relief applies if the rateable value of your premises is under £15,000. 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.
If the rateable value of your premises is between £15,000 and £51,000 and your business is in retail, hospitality or leisure then you may be eligible for the higher grant of £25,000.
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.