ACS Outlines Business Rates Support Measures Available for Local Shops

ACS (the Association of Convenience Stores) is outlining the business rates and cash grant support measures that have been made available for retailers in response to the developing situation of the coronavirus outbreak (Covid-19).

The funding that has been made available is detailed below:

England

  • Small Business Grant Fund - £10,000 one-off cash grant for stores eligible for Small Business Relief or Rural Rate Relief
  • Retail Grant Fund -  £10,000 one-off cash grant for stores up to £15,000 rateable value, except those eligible for the Small Business Grant Fund. £25,000 one-off cash grant for stores between £15,000 - £51,000 rateable value
  • Business Rates Holiday – 100% business rates relief for 2020/21 business rates bills

Wales

  • Business Rates Holiday – 100% business rates relief for 2020/21 business rates bills, for stores up to £500,000 rateable value
  • Welsh COVID-19 Business Grant - £10,000 one-off cash grant for stores eligible for Small Business Relief with a rateable value of £12,000 or less. £25,000 one-off cash grant for stores between £12,000 - £51,000 rateable value. More information is available here.
  • Welsh Small Business Grant – Retailers employing up to nine people can apply for a grant up to £10,000. Retailers with between 10 and 249 employees can apply for a grant up to £100,000. More information is available here.

Scotland

  • Scottish COVID-19 Business Grant - £10,000 one-off cash grant for stores eligible for the Small Business Bonus Scheme or Rural Rate Relief. £25,000 one-off cash grant for stores between £18,001 - £51,000 rateable value. More information is available here.
  • Business Rates Holiday – 100% business rates relief for 2020/21 business rates bills

The funds will be administered by local authorities without the need for retailers to take any action with the exception of the Scottish COVD-19 business grant. ACS is encouraging retailers to look out for announcements from their local authorities for updates on when the funding will be provided.

ACS chief executive James Lowman: “There have been a number of measures announced which will be of significant help to businesses, including local shops. Convenience stores are lifelines for their local communities and this is particularly true in times of disruption.

“We welcome the support that has been made available for businesses and it is important that businesses are able to access these measures swiftly and easily. We will continue to provide support to retailers to help them understand and access the funding that has been made available in these unprecedented times.”

For more information, please contact steve.dowling@acs.org.uk.

This entry was posted by Chloe on Thu, 02/04/2020 - 16:06