Businesses in Burnley are set to receive a welcome boost with the allocation of Government grants to help with the financial security of residents within Burnley and Padiham. The grants, announced in the last few weeks by the Chancellor to support businesses through the Coronavirus crisis, will provide some well needed support for those struggling as a result and are being made available immediately.
Antony Higginbotham MP welcomed the news
“I’m pleased that the Government has now provided the extra funding to Burnley Council so that they can start getting the money to the businesses across our town. It’s important we help SME’s as well as other businesses in this time of crisis and Burnley Council now have the funding to do so.
I want to make sure that when we exit this period we still have a strong local economy, with jobs being created and a thriving sense of community. This funding from the Government, in addition to full business rates relief, will ensure that is the case.”
There are two types of grants available, one for those businesses in the Retail, Hospitality and Leisure sector and another for all other small businesses.
Businesses in the retail, hospitality or leisure sector are eligible to receive a cash grant of up to £25,000 per property, dependent on business rates. Those with a rateable value between £15,000 -£51,000 are eligible for a grant of up to £25,000, with those paying business rates of under £15,000 being eligible for a grant of £10,000.
The Government has also extended the scheme to cover all other small businesses providing additional funding to those that already pay little or no business rates because of small business rate relief (SBRR), rural rate relief (RRR) and tapered relief. This will provide a one-off grant of £10,000 to eligible businesses to help meet their ongoing business costs.
Burnley Council will be making contact with all eligible businesses and more information can be found on www.businesssupport.gov.uk/.