The global impact of Coronavirus has hit the industry hard, and the uncertainty of what the next few months and years will bring can be overwhelming. We take a look at the grants and business rates relief that the government is providing to support recruitment businesses.
The government have provided lots of support to UK SME’s with the Business Interruption Loan Scheme and Job Retention Scheme. You can find out more about the support that is available by downloading our COVID-19 Assistance document.
recently, the government have just issued an update on the Retail Discount and
the Retail, Hospitality and Leisure Grant Fund that could help recruitment
Extension of the Retail
(Leisure and Hospitality) Discount 2020/21
As part of the Government’s
support to SME’s most affected by Coronavirus, a 100% business rates discount
was extended to all businesses in the retail, leisure and hospitality sectors
for the year 2020/21 with the upper cap on rateable value removed for a year.
The list of qualifying businesses is quite extensive and can be found on the
Certain businesses are
specifically excluded from benefiting from the discount despite having a shop
front location. They include those offering professional services such as
accountants, solicitors, financial advisors and other professional services and
those not reasonably accessible to visiting members of the public. The
description ‘professional services’ is vague and it could easily encompass
recruitment businesses, however employment agencies providing services to
visiting members of the public are explicitly eligible for these 100% business
Many local authorities have
already issued business rates bills in advance of the announcement and official
advice is that eligible businesses will have a new (discounted) bill issued to
them without need for claim. Those of you that wish to apply for this extension
and have yet to receive an amended bill, please visit your local authorities
website for further guidance.
Retail, Hospitality and
Leisure Grant Fund
This separate measure offers
cash grants of between £10,000 and £25,000 to businesses both eligible for the
Retail Discount 2020/21 and which have a rateable value of less than £51,000. On
that basis we recommend you consider the following:
- Do you have an
annual rateable value of less than £51,000 per annum (in loose terms, a rates
bill before reliefs of about £25,500 or less)?
- Do you qualify for
the 100% business rates discount, providing non excluded services ‘readily
accessible to visiting members of the public’?
- It doesn’t matter if
your business is closed now due to Coronavirus, you can still benefit.
the discount, this Grant needs to be applied for through your local authority
with each local authority having their own unique way of dealing with it, some
allowing online applications whilst others provide downloadable forms. Search online for Retail,
Hospitality and Leisure Grant Fund, along with the relevant local authority
These grants of between £10,000
and £25,000 per annum (sector dependant) would provide a significant, immediate
cash injection for many businesses.
If you would like advice on the Government support your business
is eligible for or you are concerned about cash flow in your business then
please do get in touch. We can help you identify the extent and duration of
your funding requirements and determine the interactions with other announced
support (the Coronavirus Job Retention Scheme, and/or Time to Pay arrangements
We can help you raise finance through your current bank and/or
alternative lenders, leaving you to continue to run your business during these unprecedented
times. We will liaise with potential lenders and providing you meet the
qualifying criteria, arrange funding on your behalf.
If you would like to discuss your funding needs please contact Stuart Hutchison on: 07590 440 643 or email email@example.com.