First Island businesses receive Restart Grant funding

In News by Bembridge PC

Restart Grant funding has started landing in the bank accounts of many eligible businesses.

The first payments were made to more than 600 Island businesses this morning (Wednesday) and will continue to be paid to all those eligible over the coming weeks.

For businesses which have previously received a government COVID-19 business support grant during 2021, the payments should be made automatically via existing details held by the council.

Businesses that did not apply online for the recent Local Restrictions Support Grant (LRSG) funding (launched in January) will need to complete an application form which is now available on the council website.

Further communications will be issued in good time before the 30 June 2021 deadline to ensure all eligible businesses have received their Restart Grant — and if not, what they need to do.

The Restart Grants for ratepaying businesses were announced in the government budget of 3 March.

The support is aimed at non-essential retail, hospitality, accommodation, leisure, personal care and gym businesses in England who receive a business rates bill.

They are paid via local councils:

  • Up to £6,000 to non-essential retail business premises, to help them reopen safely.
  • Up to £18,000 to hospitality, accommodation, leisure, personal care and gym business premises, which may open later under plans set out in the government roadmap and will be more impacted by restrictions when they do reopen.

Businesses must have been trading on 1 April 2021 to be eligible to receive funding under this scheme.

For further information, visit https://www.iow.gov.uk/Council/OtherServices/Public-Health-Coronavirus-COVID-19/Businesses-and-employers