LIVERPOOL FIRMS TO RECEIVE MORE THAN £3 MILLION SUPPORT IN DAYS
Small and medium-sized businesses in Liverpool will soon start receiving millions of pounds in Government coronavirus support grants.
Liverpool City Council, which is administering the scheme in the city, says that since inviting applications a few days ago, around 3,600 had filled in the online form and should receive their funds in a matter of days.
The fund is largely aimed at retail hospitality and leisure businesses and there is also help for other types of firms.
The council says it has already approved 150 of the applications and grants totalling more than £3m are expected to start arriving in the bank accounts of businesses by Wednesday, April 8.
It is estimated that up to 9,000 businesses in Liverpool could benefit from the scheme which offers cash grants of £10,000 and £25,000, depending on the rateable value of the business.
All businesses with a rateable value of £15,000 or below will be eligible to apply for a £10,000 grant. To qualify they must have been receiving Small Business Rates Relief and need to provide a bank statement form the past three months.
Businesses in the retail, hospitality and leisure sectors will qualify for help under the Government’s Retail, Hospitality and Leisure Grant Fund. Small businesses in other sectors will receive help under the Government’s Small Business Grant.
For firms with a rateable value between £15,000.01 and less than £51,000, they may qualify for a £25,000 grant. The expanded retail discount – the 100% reduction to your business rates for 2020/21 – must also apply.
Qualifying businesses include:
- Cafes, restaurants, take-aways and drinking establishments.
- Cinemas, music venues and nightclubs.
- Petrol stations.
- Gyms, leisure and sports facilities.
- Estate agents and letting agents.
- Betting shops and bingo halls.
- Car show rooms.
- Hotels and guest houses
If a business has multiple premises, businesses are advised that they must submit an application for each one. The application must be completed by the business ratepayer. If the ratepayer is a company or partnership, it should be completed by a company director or one of the partners in the firm. Liverpool Mayor Joe Anderson said:
“This grant support scheme will be welcome news for many small businesses across the city. I would urge any that qualify to fill in our new online form as soon as possible.
“We are working very hard behind the scenes to ensure businesses do not go under due to rent arrears, utility bills and business loans and I’m writing to the Governor of the Bank of England to seek further assurances on the level of banking support businesses can receive.”