Instreatham has been actively monitoring the Coronavirus outbreak here in the UK
We have been communicating directly with the government, on a local and national level. This is helping to ensure our businesses get exactly what they need.
We want to reassure you that we are continuously working in the background to maintain the value we give our members.
Some projects are still running and we’ll keep members informed of any developments with our activities.
Government support for businesses
The government have announced broader financial support for businesses coping with the economic impact of coronavirus. This includes:
The Chancellor announced £4.6 billion in new lockdown grants to support businesses and protect jobs in the retail, hospitality and leisure sectors. Businesses are to receive a one-off grant worth up to £9,000. This is on top of the funding which has already been guaranteed to continue to provide the devolved administrations the certainty they need to plan for their COVID-19 response in the months ahead.
- The one-off top-ups will be granted to closed businesses as follows:
- £4,000 for businesses with a rateable value of £15,000 or under
- £6,000 for businesses with a rateable value between £15,000 and £51,000
- £9,000 for businesses with a rateable value of over £51,000
- £594 million discretionary fund also made available to support other businesses impacted by the restrictions.
- comes in addition to £1.1 billion further discretionary grant funding for Local Authorities, Local Restriction Support Grants worth up to £3,000 a month and extension of furlough scheme
All businesses eligible for the National Lockdown Grants in November will automatically be entitled to receive the new Government grants WITHOUT APPLYING. You will automatically be credited with one bulk payment which will include three payments of:
- Tier 4 Grants from November 20th to January 4th
- National Lockdown grants from 5th January to February 22nd
- The additional Closed top up grant of £4,000, £6,000 or £9,000 depending on the size of your business
As always please keep hold of your reference number so we can support any enquiries you may have.
At Instreatham BID we will continue to provide a voice for business within Streatham and continue to offer clarification and guidance to our members.
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Business Support Helpline
As of March 23rd 2020, our staff will work remotely and will continue to be operational during business hours, Monday to Thursday, 9:00 – 17:30. We are available to offer support through all of our channels. If you would like to book a phone consultation to discuss ways in which we can support you please email us to set this up.