Help for businesses in Loughborough

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Around 2,500 businesses in Charnwood could be eligible for government support to help them through the coronavirus pandemic.

Charnwood Borough Council, which will co-ordinate some of the support in the area, estimates it could end up distributing around £25 million in funding.

If your business needs help visit www.charnwood.gov.uk/coronavirusbusinesssupport

Fill out the online form which goes live on 1st April. 

BUSINESS RATES

Charnwood Borough Council will pro-actively suspend collection of business rates by direct debit where the business qualifies for the business rates ‘holiday’ announced by government.

Most businesses in the retail, hospitality and leisure sectors will not be required to pay business rates in the 2020/21 financial year. This will be done automatically so there is no need for companies to do anything and the Council will write to you.

Businesses in other sectors which remain liable to pay business rates but which are experiencing genuine financial difficulties caused by coronavirus can contact the Business Rates Team to discuss the potential for a payment plan of deferred business rates.

Email business.rates@charnwood.gov.uk 

GRANTS

The Council will be administering applications for and payments of support grants in accordance with government guidance and regulations.

Businesses in the retail, hospitality and leisure sectors will be eligible for a grant of £10,000 where their Rateable Value is up to £15,000.

Businesses in the retail, hospitality and leisure sectors will be eligible for a grant of £25,000 where their Rateable Value is between £15,001 and £51,000.

For businesses in all sectors, if you already receive Small Business Rate Relief or Rural Rate Relief you will be eligible for a one-off grant of £10,000.

We will be contacting some businesses automatically, however we are also creating an online form so that businesses can also be proactive and contact us. The form will be live from Wednesday April 1 2020. 

OTHER RESOURCES

The Government’s business support website has range of information of help available www.businesssupport.gov.uk/coronavirus-business-support/

For the latest updates regarding council services, please visit www.charnwood.gov.uk/coronavirus.

For more information on the what the Council is doing to support businesses and for advice and information, please visit www.charnwood.gov.uk/coronavirusbusinesssupport

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