Connect with us

Business

Good news for Crawley businesses as Government abolishes business rates for those with rateable value below £51k

Published

on

It was always expected to be an interesting budget but in the light of the problems around the Coronavirus the Government has announced plans to help business.

Chancellor Rishi Sunak has confirmed that they will aboish business rates for any business with a property whose rateable value is less than £51,000 for the coming year.

In addition they will also increase business rates retail discount by 50%

The news means that small retail, leisure and hospitality firms will be exempt from paying business rates for one year as part of the emergency budget to protect the UK economy from the impact of Coronavirus.

He chancellor went on to announce a review into the long term future of business rates would be concluded by the autumn.

Business

‘It’s not nearly enough funding’ warns Crawley Council as business grant applications open

Published

on

Eligible businesses can now apply for the latest round of business grants but Crawley Borough Council says the funding is not nearly enough.

Despite Crawley being responsible for 25 per cent of the economic output in West Sussex, it has been given some of the lowest grant funding in the county.

The government has given the council £3,733,396 made up of:

  • £1,485,216 in Local Restrictions Support Grant to distribute to businesses that pay business rates and have had to close during the second lockdown
  • £2,248,180 in Additional Restrictions Grant, which is given to businesses that don’t pay business rates and have been affected by the lockdown but not legally required to close.

Out of seven local authorities in West Sussex, only one received less than Crawley’s combined grants figure. Five councils received more.

The Additional Restrictions Grant is based on £20 per person in Crawley rather than the number of businesses in the town. This means that Arun District Council, for example, has received £3,215,160 due to a larger population but smaller economy.

And only one council in West Sussex received less than Crawley across both rounds of grant funding in April and November. Crawley received a total of £17,167,646. The highest – Chichester District Council – received £43,739,396.

In the first round of grants earlier this year only 23 per cent of Crawley businesses received financial help from the government.

Councillor Peter Lamb, Leader of the Council, said:

“The pot of grant funding provided by the government is very limited and does not recognise the number of businesses we have in Crawley.

“The way the grant settlement is calculated – on population and not on the size of the economy – means we have to turn most businesses away, while other councils have millions to spare. This is causing major hardship at a time when Crawley is already the hardest-hit economy in the UK.”

Businesses that have had to close during the second lockdown can apply for a Local Restrictions Support Grant by visiting https://grantapproval.co.uk

Continue Reading

Trending