Rushcliffe Borough Council is reassuring business owners in the retail, hospitality and leisure sectors that central government grant support will be ready to distribute by April 10.
The Chancellor outlined the support on March 17 as part of the £350bn package of support for enterprise nationwide that will now see the Department for Business, Energy & Industrial Strategy (BEIS) provide the authority with the funding to administer the payments to businesses in accordance with Government guidelines.
The two types of payments made will see £10,000 grants for properties with a rateable value of £15,000 or less and £25,000 grants for properties with a rateable value of more than £15,000 but less than £51,000 with some exceptions.
Relevant businesses will be contacted on how to claim the grant in line with safe financial protocols as soon as possible. The timing of payment received will be dependent upon a prompt return of information by businesses.
Leader of the Council Cllr Simon Robinson said: “These schemes are vital elements in the wider support to the economy as we locally support the central government in managing the impacts of COVID-19.
“We know businesses everywhere are facing an unprecedented position and our teams will work hard with business owners to distribute the funding to over 1500 businesses amounting to around £19m.
“This will be done as soon as possible once final details have been confirmed and all information has been received from the business community.
“In addition to this we have processed 12 months of business rate relief to around 490 businesses in the retail, leisure, hospitality and child care sectors amounting to £9.1m and revised bills are currently in the post.
“The latest information on this and all the support for businesses, our services and communities is available at www.rushcliffe.gov.uk”
D2N2 Growth Hub is also supporting businesses across the region with advice on reacting to COVID-19, visit www.d2n2growthhub.co.uk or call 0333 006 9178 for more information.