Last week’s budget announced that any small business in receipt of Small Business Rate Relief (SBBR) would benefit from a £3,000 support grant from the government. This has now been increased to £10,000 (as announced by the Chancellor on 17 March). A further grant of up to £25,000 will be available for retail, hospitality and leisure businesses with a rateable value for business rates purposes of between £15,000 and £51,000.
It is expected that these grants will be paid to eligible businesses by district councils without the need to apply or make contact. The final details are being confirmed with government and payments will be made as soon as possible.
In addition to these grants the government has announced a coronavirus business interruption loan scheme. This will be launched next week and will be operated by the British Business Bank.
More information is available here