Financial support for businesses hit by disturbances

By on 17/08/2011 in News

With Birmingham City Council set to bid for up to £2 million from the £20 million High Street Recovery fund announced by Government following last week's disturbances, the authority has today outlined how the money will be spent and who will be eligible to bid for it.

Financial support will be provided to local businesses who suffered damage, loss or closure as result of the disturbances across two key areas:

Business Rate Hardship Relief: With the Government already proposing to offer up to 75% business rate relief to affected companies, the Council will use a proportion of money it receives from Government to cover the remaining 25% for those eligible.

To be eligible the business rate payer will have to show that they suffered direct consequences as a result of the disturbances which occurred between 6th and 11th August which would lead to hardships if the Council did not provide relief on their usual business rates.

Financial Recovery Scheme: Open to small and medium sized business with less than 250 employees and a turnover below £11.2m per annum the scheme is designed to provide small grants to those directly affected by the disturbances to recoup costs incurred as a direct result, such as:

• Losses/replacement costs not covered by insurance policies
• Hire costs for temporary accommodation
• Clean-up costs
• Emergency repairs that were required to buildings, machinery or vehicles to make them safe or restore them to a usable state
• Additional staff costs incurred as a result of clean-up/emergency response
• Reinstatement of business records
• Structural surveys and associated professional costs arising due to any direct damage to buildings
• Security measures
• Costs of marketing activity to promote business recover

Business wishing to find out more about the recovery scheme and how to bid for grants/rate relief through it should contact the City Council on a dedicated phoneline which has been set up to support businesses affect on 0121 464 8164

Since the disturbances, officers from the City Council have proactively been out to talk to up to 100 businesses that were directly affected by the disorder.

Tags: , ,


If you enjoyed this article, subscribe now to receive more just like it.