On Monday the next stage of lifting lockdown began in England, meaning more businesses will be able to re-open.
From April 12th all shops were allowed to open along with the following;
-Hairdressers, beauty salons and other close-contact services allowed to open
-Restaurants and pubs allowed to serve food and alcohol to customers sitting outdoors
-Gyms and spas can reopen, as can zoos, theme parks, libraries and community centres
-Members of the same household can take a holiday in England in self-contained accommodation
-Non-essential journeys between England and Wales are allowed
-Weddings – up to 15 people
-Funerals – up to 30 people, with 15 at wakes
-Children will be able to attend any indoor children’s activity
-Care home visitors will increase to two per resident
-Driving lessons can resume, with driving tests restarting on 22 April
Restart Grant
The Restart Grant scheme supports businesses in reopening safely as COVID-19 restrictions are lifted.
Grants were available from 1 April 2021.
Your business may be eligible if it is:
– Based in England
– Rate-paying
– In the non-essential retail, hospitality, accommodation, leisure, personal care or gym sectors
– Trading on 1 April 2021
The amount you can expect to receive depends on your sector and the rateable value of your premises.
Non Essential Retail business premises can receive a grants of up to £6,000 in line with the following thresholds as at 1 April 2021 –
- Rateable Value of £15,000 or under will receive a payment of £2,667
- Rateable Value of over £15,000 and less than £51,000 will receive a payment of £4,000
- Rateable Value of £51,000 or over will receive a payment of £6,000
Hospitality, accommodation, leisure, personal care and gym business premises can receive one-off grants of up to £18,000 in line with the following thresholds as at 1 April 2021 –
- Rateable Value of £15,000 or under will receive a payment of £8,000
- Rateable Value of over £15,000 and less than £51,000 will receive a payment of £12,000
- Rateable Value of £51,000 or over will receive a payment of £18,000
For those businesses that were eligible for, and were paid, existing local restrictions grants the Government will have the data from previous applications and therefore there is a much shorter form to be completed.
If you are yet to receive any funding your council will request extra information.
We have listed a few local council websites below which should direct you to the form.
York Council
https://www.york.gov.uk/information-businesses/covid-19-business-rates-grants#rg
Please note: If you do not have a rateable premises you do not qualify for a restart grant.
Recovery Loan Scheme (RLS)
A new government-backed loan scheme launched 6th April to provide additional finance to those businesses that need it. This has come since the withdrawal of the CBILS and BBL options of funding.
The new loan scheme will provide further support to protect businesses and jobs and will include 80% government guarantee along with an interest rate cap.
You are still eligible to apply for RLS if you have claimed for one of the previous loan incentives.
A lender can provide up to £10 million as one of the following facilities:
-Term loan
-Overdraft
-Invoice finance
-Asset finance
If you’re borrowing £250,000 or less the lender won’t take any form of personal guarantee.
If you’re borrowing more than £250,000 the lender has the discretion to decide whether to take personal guarantees. However, no personal guarantees can be held over Principal Private Residences.
Please use this link to find a list of accredited lenders https://www.british-business-bank.co.uk/ourpartners/recovery-loan-scheme/current-accredited-lenders/
If you need help with regards to the applications of any of the above schemes please feel free to call us on 01482 888820 and our dedicated team will be on hand to support you.