With less than 50% of grant funding available to SMEs from the Government distributed so far, businesses are urged to get in touch with their Local Authorities.
To date, of the £12.3billion given to local authorities to support SMEs through the Small Business Grant Fund and the Retail, Hospitality & Leisure Grant Fund, as at 20 April only £6.11 billion had been paid out to 491,725 business properties – that’s just under 50%.
Local authorities are contacting eligible businesses – largely those in receipt of the Small Business Rate Relief Scheme, the Rural Rate Relief Scheme or the Expanded Retails Discount Scheme with a rateable value of less than £51,000 – about grant funding.
With grants ranging from £10,000 to £25,000 provided in respect of each property, businesses with multiple outlets may be receiving multiple grants from multiple local authorities.
For the local authorities in Derbyshire, there is a significant variation in the percentage of potentially eligible businesses that have received their grant funding, ranging from 15% in South Derbyshire to 77% in North East Derbyshire. Derby City Council has distributed 35% of the funds it has available.
The approaches taken, according to LA websites, have varied from sending out letters to inviting businesses to apply online. We encourage you to check your local authority websites to make sure you are clear about the approach your local authority is taking and to respond quickly to letters that they may have sent, so that payments can be made.
Wayne Thomas, Partner at Bates Weston comments:
“The important point to stress here, is that if your business has been contacted by your local authority, respond quickly and if you believe you are eligible check your local authority website if they have not yet contacted you.”
The figures for Local Authorities in Derbyshire as at 20 April 2020 are as follows:
|Local Authority||Initial allocation||Number believed to be eligible as at 19 April||Number of grants made||Value of payments||% of grant funds distributed|
|Amber Valley Borough Council||£28,948,000||2,384||1,600||£20,275,000||70%|
|Derby City Council||£45,866,000||3,892||1,278||£15,945,000||35%|
|Derbyshire Dales District Council||£36,296,000||2,959||1,618||£18,880,000||52%|
|North East Derbyshire District Council||£19,690,000||1,740||1,380||£15,150,000||77%|
|Chesterfield Borough Council||£27,698,000||2,327||1,280||£14,615,000||53%|
|Bolsover District Council||£14,216,000||1,201||691||£7,420,000||52%|
|South Derbyshire District Council||£15,240,000||1,202||170||£2,210,000||15%|
|Erewash Borough Council||£24,906,000||2,164||619||£7,720,000||31%|
|Source: local authority grant payments as of 20 April 2020|
Government grant funding schemes guidance.