Posted: 19.11.20 at 10:34 by LAYTH YOUSIF @HitchinNubNews
Two new business grants have been announced to help support businesses during the latest national lockdown.
North Hertfordshire District Council (NHDC) is administering the grant schemes in the district on behalf of the government.
With many businesses in and around Hitchin feeling the squeeze brought on by the Covid crisis here are two grants you companies might be able to tap into.
Local Restrictions Support Grant (LRSG)
The LRSG is now open for applications from businesses that occupy premises and have been told to close by the government.
These include non-essential retail, leisure, personal care, sports facilities and hospitality businesses.
The thresholds that apply are:
Businesses with a rateable value of exactly £15,000 or under will receive a payment of £1,334 per 28 day qualifying restriction period.
Businesses with a rateable value over £15,000 and less than £51,000 will receive a payment of £2,000 per 28 day qualifying restriction period.
Businesses with a rateable value of exactly £51,000 or above will receive £3,000 per 28 day qualifying restriction period.
Additional Restrictions Grant (ARG)
The ARG will launch shortly and is a discretionary fund to support businesses that have had their trade affected by the restrictions, but may not have qualified for the LRSG.
Closed businesses that don’t pay business rates
Businesses that have not been required to close but are still severely impacted.
For example businesses which supply another business that has been temporarily closed due to lockdown, or that provide a service to a business which has been temporarily closed.
This grant funding will also be applicable to market traders.
Applications for ARG funding will be considered on a case by case basis.
Grants awarded are not a loan, so businesses do not need to pay any money back.
Councillor Ian Albert, NHDC’s Executive Member for Finance and IT said: “Many local businesses have been forced to temporarily close during this latest national lockdown to help manage the spread of coronavirus, to save lives and protect the NHS.
"We welcome this financial support for them and other businesses that have been directly and indirectly affected by the closures.”