Bucks Business Grants available to eligible local businesses

Eligible local businesses in Buckinghamshire can apply now for one of the two Bucks Business Grants.

The Bucks Business Grants have been set up by Buckinghamshire Council to help support businesses who have been impacted by the current national lockdown.

The Local Restrictions Support Grant (LRSG), which is now open for applications, is available to businesses that are required to close because of the national restrictions and is linked to the level of rateable value. A business may qualify for financial support for the duration of the current lockdown with further support if restrictions are extended.

For other affected businesses who do not meet the eligibility criteria for the LRSG, the Additional Restrictions Grant (ARG) which opens on Friday 20th November 2020, may provide some support. The ARG is open to businesses which have been adversely impacted by the latest lockdown restrictions but are not eligible for other government support schemes. For qualifying businesses, the ARG offers a one-time grant allocation based on the number of employees.

Cllr Martin Tett, Leader of Buckinghamshire Council, said: ‘We realise just how vital financial support is for many businesses impacted by these new restrictions in various sectors of the economy. With the Bucks Business Grants we will be able to help more of our local businesses affected during what is a difficult time.

These grants will help eligible local businesses meet expenses and keep them going through this lockdown. As well as providing support for individual businesses this also means a helping hand for Buckinghamshire’s economy.

Please do take a look at our website to see if you are eligible and to apply. As they are grants and not loans, they do not need to be repaid.‘

Local Restrictions Support Grant

This grant is available to eligible businesses that are required by government to close during the current national restrictions, from Thursday 5th November 2020 to Wednesday 2nd December 2020, or until restrictions are lifted. Eligible businesses include those in non-essential retail, leisure, entertainment, personal care and hospitality. Payments are based on the rateable value of the business property:

• For properties with a rateable value less than £15,000 the grants are £1,334 for the 28-day restriction period.
• For properties with a rateable value between £15,000 and £51,000 the grants are £2,000.
• For properties with a rateable value higher than £51,000 the grants are £3,000.

One payment will be made covering the four week period. Applications will be accepted while national restrictions remain in place.

Further information including details on eligibility and to apply can be found at on the Buckinghamshire Council website at https://www.buckinghamshire.gov.uk/coronavirus/coronavirus-business-support-hub/coronavirus-business-grants/local-restrictions-support-grant/.

Additional Restrictions Grant

Businesses that do not qualify for the LRSG but have been severely impacted by the lockdown may qualify for the Additional Restrictions Grant. This is a discretionary scheme which Buckinghamshire Council will run. This grant is aimed at providing support to businesses that have not been able to access other government support initiatives.

Businesses will be eligible if they can evidence a 30% reduction in their income over the lockdown period, provided they aren’t already eligible for the LRSG. Self-employed people can apply if they meet these criteria and are not already claiming from the Self-Employment Income Support Scheme (SEISS).

The amount awarded will vary based on the number of employees in a business:

• Self-employed people (not already claiming SEISS) will be eligible for grants of £1,000.
• Businesses of fewer than five employees will be eligible for grants of £1,500.
• Businesses of five or more employees will be eligible for grants of £3,000.

Applications for this scheme can be made at the above web address from midday Friday 20th November 2020 and will be accepted until Friday 18th December 2020.

*Source of article : Press release from Buckinghamshire Council.