9th Jul, 2020

Financial support for Redditch businesses expected 'early April'

Harry Leach 26th Mar, 2020 Updated: 26th Mar, 2020

FINANCIAL support for Redditch businesses is expected to be available from early April.

Those in receipt of small business rates relief, regardless of sector, will be eligible for a cash payment of £10,000.

And all eligible businesses in the retail, hospitality, and leisure sectors will receive a cash grant of up to £25,000.

This will be paid depending on the ‘Rateable Value’ (RV) of each business.

RV up to £15,000 will get £10,000 and RV between £15,000-£51,000 will get £25,000.

Businesses in the retail, hospitality, and leisure sectors will also pay no business rates in 2020-21.

It is expected that these government grants will be paid to businesses by Redditch Borough Council without the need for them to apply or contact the council directly.

And finally any properties occupied by providers of Ofsted’s Early Years Register, and used for the provision of Early Years Foundation Stage, while subject to business rates in 2020/21, will receive 100 per cent discount.

Council leader Matt Dormer said: “First of all thank you to our residents who have been understanding and supportive of some of the key decisions we have had to make, not least closing the Town Hall to the public.

“It’s meant a lot of changes for how we live and work and as a business owner myself I can empathise with the uncertainty felt by the small business community in particular. But there is lot of support available.

“We are endeavouring to keep our frontline services in operation.

“Teams from services which have been paired back or temporarily suspended are being redeployed to ensure our vulnerable residents aren’t impacted.

“Please keep safe, stay at home and keep unlocking the community spirit which Redditch is renowned for.”

For information on grants visit http://redditchbc.gov.uk/coronavirus

Subscribe

Receive a weekly update to your inbox by signing up to our weekly newsletter.

Recruitment

Find a career you'll love with our free career finder website.

Buy Photos

Buy photos online from the Redditch Standard newspaper.

Podcasts

Now, every week, you can also listen to a roundup of Redditch Standard Local News.