Added on: 23rd October, 2020 by O1
Ahead of the start of "Lockdown 2" further grant funding for businesses affected was announced by central government. Check the latest here.
Bromley council has told Orpington 1st that they are awaiting further information from central government but are reviewing the process for grant requests as a priority and thank businesses for their patience whilst they do this. We will update businesses as soon as the council have the necessary information.
Local Restriction Support Grants (closed)
The government has said that business premises forced to close in England are to receive grants worth up to £3,000 per month under the Local Restrictions Support Grant. Also, £1.1bn is being given to Local Authorities, distributed on the basis of £20 per head, for one-off payments to enable them to support businesses more broadly.
• properties with a rateable value of £15k or under: grants of £1,334 per month, or £667 per two weeks
• for properties with a rateable value of between £15k-£51k: grants of £2,000 per month, or £1,000 per two weeks
• for properties with a rateable value of £51k or over: grants of £3,000 per month, or £1500 per two weeks.
Local Restriction Support Grants (open)
Prior to the introduction of England-wide restrictions the government announced that it would be providing additional funding to allow Local Authorities to support businesses in high-alert level areas which are not legally closed, but which were severely impacted by the restrictions on socialising.
The funding Local Authorities will receive will be based on the number of hospitality, hotel, B&B, and leisure businesses in their area.
The whole of Greater London was placed into a High Alert Level (Tier 2) between 17 October 2020 and 4 November 2020. Central Government has advised that Bromley will receive an allocation to pay eligible businesses Local Restrictions Support Grants for the period they spent in this tier, backdated to 17 October
Bromley will receive a funding amount that will be the equivalent of:
• For properties with a rateable value of £15,000 or under, grants of £934 per month.
• For properties with a rateable value over £15,000 and below £51,000, grants of £1,400 per month.
• For properties with a rateable value of exactly £51,000 and over, grants of £2,100 per month.
Local Authorities will also receive a 5% top up amount to these implied grant amounts to cover other businesses that might be affected by the local restrictions, but which do not neatly fit into these categories.
On the 5th November, the chancellor announced that the Coronavirus Job Retention Scheme (also know as the furlough scheme) would be extended until March.