Derby City Council has announced it will support the city’s businesses through the coronavirus pandemic with a £47 million financial support and relief package.
The Council is to contact around 3900 businesses who will be eligible for grants of either £10,000 or £25,000 from the Government’s coronavirus support packages later this week.
A £10,000 grant is available to small business who on Wednesday 11th March 2020 had a rateable value up to £15,000 and were either eligible for small business rate relief or were in the retail, hospitality and leisure sectors. Further, a £25,000 grant is available for businesses who on the same date had a rateable value between £15,001 and £50,999 and were in the retail, hospitality and leisure sectors.
Eligible businesses will be asked to register a new myaccount (even if they have an existing account) before being directed to complete a secure on-line form to establish their eligibility and we aim to process these applications as soon as possible after submission to assist with businesses cashflow.
We are aware that many businesses will not currently be eligible under the current approved grant schemes and encourage all businesses to visit our coronavirus advice for businesses page for guidance and links to other schemes announced by Government to support businesses through this difficult time.
Last week we announced a series of measures to support businesses including the ability to request changes in instalments dates.
Councillor Nicola Roulstone, Cabinet Member for Finance and Procurement said
“Supporting our local businesses is absolutely a key priority for us right now – these are unprecedented times and we are here to help them through this period of economic shock.
If your business is eligible to receive a grant, you’ll soon receive a letter from us with more detail about how to apply. We want to get you the financial support that you need as soon as possible
In these difficult times I have been in awe of the many businesses in the City that are doing great things to support local communities, vulnerable people and to supply the NHS with vital equipment.”