Businesses in North Somerset receive more than £12.9million in pandemic payouts
- Credit: Archant
The district’s authority has begun to distribute Government cash to businesses.
North Somerset businesses have received more than £12million in payouts since the Government support schemes were introduced due to the coronavirus pandemic.
North Somerset Council confirmed the figures, stating that it has a sum of more than £40million in Government aid to distribute to the region’s businesses.
Councillor Mark Canniford said: “There are around 3,500 businesses eligible in North Somerset. The Government has made a sum of £40.3million available to us for paying the grants.
“We recognise this is a difficult time and we want to help organisations get the financial help they need.”
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Cllr Canniford also confirmed that £12.9million had been distributed in total, with 1,063 claims processed.
The business schemes include a Small Business Grant Fund, as well as a Retail, Hospitality and Leisure Grant Fund.
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These grants range from £10,000 to £25,000 depending on the circumstances in which they are given.
There is also support available in business rates relief – for retail, hospitality and leisure properties, including estate agents, letting agencies and bingo halls. Businesses will receive 100 per cent relief from
their business rate bill for April 2020.
Additional Government run schemes supported by the council include the Self-employment Income Support Scheme – a taxable grant worth 80 per cent of self-employed individuals income up to a maximum of £2,500 a month for the next three months.
The Coronavirus Job Retention Scheme – any business putting staff on leave during the coronavirus outbreak will receive 80 per cent of a person’s salary, up to a value of £2,500 per person, per month.
Support for self-employed people – the minimum income floor has been suspended allowing all self-employed individuals to access Universal Credit.
Cllr Canniford added: “Help is available and I would really urge businesses and individuals to get in contact with us to see what available support there is.”
“We can only make the grant payments to the eligible business if we have their bank account details so I urge businesses to complete the online paperwork so we can ensure they are paid.”
To find out more about which schemes you or your business might be eligible for, log on to www.n-somerset.gov.uk/together