Chancellor of the Exchequer, Rishi Sunak, unveiled £5 billion for new Restart Grants in his 2021 Budget announcement. But what does this mean for eligible businesses in the personal care sector?
The one-off cash grant offers up to £6,000 per premises for non-essential retail businesses and up to £18,000 per premises for hospitality, accommodation, leisure, personal care and gym businesses, ‘giving them the cash certainty they need to plan ahead and safely relaunch trading over the coming months.‘ It hopes to provide support until 21 June – the date in the PM’s roadmap that may see all coronavirus restrictions lifted.
The Budget statement reads: “The government is also providing all local authorities in England with an additional £425 million of discretionary business grant funding, on top of the £1.6 billion already allocated. Altogether, this support will cost £5 billion. This brings the total cost of cash grants provided by the government to £25 billion.”
Beginning in April, the Restart Grant is administered by your local authority and expected to help around 700,000 small business owners. The grant amount depends on rateable value.
The Restart Grant initiative will replace the monthly Local Restrictions Support Grants for a) open and b) closed businesses. These grants will both close at the end of March.
Based on the current guidance the government has given to local authorities for the Local Restrictions Support Grants, your business may be eligible for a Restart Grant if it:
is based in England
occupies property on which it pays business rates (and is the ratepayer)
has been required to close for at least 14 days because of the restrictions
has been unable to provide its usual in-person customer service from its premises
You cannot receive a Restart Grant if:
you can continue to operate during the period of restrictions because you do not depend on providing direct in-person services from your premises
local restrictions are introduced for less than 14 days or you are closed for less than 14 days
you have chosen to close, but have not been required to close as part of local restrictions
your business is in administration, insolvent, subject to a striking-off notice or has been struck off the Companies House register
you have exceeded the permitted subsidy limit
How to apply
The Restart Grant is administered by your local authority. Find your local council website by clicking here.