Business Advice during COVID-19 crisis

on Thursday, 02 April 2020. Posted in N21 Experts

Business briefing from Enfield Council (2.4.20) 

 

Mark Bradbury, Director of Property and Economy, Enfield Council


Background

 

On March 11 2020, the Chancellor announced it would provide additional support for small businesses, and businesses in the retail, hospitality and leisure sectors. The support will be in two ways:

 

* An expanded business rate retail, leisure and hospitality relief scheme - We have applied the maximum rate relief to over 1,800 businesses totalling £45.6m. This included 109 charities and community amateur sports clubs, 155 restaurants and over 1,300 shops and supermarkets that will not pay any business rates this year. All direct debits have been stopped and revised nil bills issued which should arrive this week.

 

* Business Grant funding - Businesses receiving either Small Business Rate Relief or the Expanded Retail Discount on the 11th March 2020 will receive a government grant depending on which relief they are receiving. Small businesses (with a rateable value of £15,000 or less) will be entitled to a grant payment of £10,000. There are 2,211 potentially eligible small businesses. Retail businesses with a rateable value between £15,000 and £51,000 are entitled to a grant payment of £25,000. There are 1,042 potentially eligible retail businesses.

 

Business Grant application process

 

Eligible businesses that pay their business rates by direct debit will be paid the grant on the 2nd April by bank transfer automatically without the need to make an application. The total grant payment for direct debit cases is over £14m for 1,000 businesses

For non-direct debit payers we will be sending an email (or a letter if we don't hold email details) advising that they are eligible for a grant and to make an on line claim via the portal https://enfieldopp-live.openrevenues.civicahosting.co.uk/scripts/OPENPortal-Live.wsc/ndr/ndrgrant.p

 

To process the grant businesses will need:

* The business rate bill to get the business rate account from

* Bank details

* A recent statement from the bank account used to pay the business rates

* VAT registration number – if registered – this is not mandatory

 

Payments will be made by bank transfer and will be in business's bank account within three working days.

 

Businesses can check whether they are eligible for a grant by entering their business rate account number into the on-line portal

If businesses need any further assistance or advice they can call the business rates helpline on 020 3821 1946


Keeping our local economy going and sustaining employment is a priority for Enfield Council and we are working to create a package of support for our business community. We will continue to work closely with Government and partners to develop this offer and will be communicating with you and with businesses as initiatives are launched.

 

For the latest guidance and support available to businesses please go to:

https://new.enfield.gov.uk/services/business-and-licensing/covid-19-guidance-for-employers/

If you get enquiries from businesses please direct them to this link in the first instance. We are happy for you to forward this email to businesses if that helps.

 

Other useful information and support can be found at the following links :-

Government guidance for employees, employers and businesses

Business rates calculator

Government Business Support

London Growth Hub

Federation of Small Businesses

British Chamber of Commerce

 

 


 

 

 

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