Grant payments and retail relief for small businesses
Every small business in the city eligible for retail relief as a result of the Covid-19 outbreak has had their business rates cancelled for the next 12 months.
Business rates relief is part of a package of measures to support small businesses many of which have had to close to help enforce current restrictions.
We have proactively cancelled direct debits and contacted all eligible businesses in the city to ensure they are aware that they do not have to pay any business rates for the next 12 months.
This amounts to £68 million of rates that local businesses will not have to pay and is a significant contribution from the council in providing direct support for businesses.
Our action will benefit 2,700 businesses who won’t have to pay any business rates this year.
We are also making it a priority to distribute small business grants funded by the government and £21.4 million of payments have been made to more than 1,000 businesses.
We are now asking eligible businesses for which we do not hold bank details to contact us through a secure portal so that we can make their payments as soon as possible.
A lifeline for our small businesses
Council leader Nancy Platts said: “I want to thank businesses in the city for the way they are responding to this unprecedented situation and the many actions they are taking to support communities.
“We have a large number of small businesses in Brighton & Hove and I know how worried business owners are about their financial situation. This financial support is a lifeline for our small businesses which is why we are making grant payments and retail relief a priority.”
Small business grants of £10,000 are available for businesses that receive small business rate relief or rural rate relief. Businesses in the retail, hospitality and leisure sector with property with a rateable value between £15,000 and £51,000 will receive a grant of £25,000.
The financial support being distributed by the council is being compensated by the government which has set aside millions of pounds to support businesses and individuals in the city as part of the Covid-19 measures.
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Councillor Platts on how the council is working to help small businesses during COVID-19.