4th May 2020 update:
On 2nd May 2020, the government announced new funding worth £617m for small businesses in shared spaces such as co-working spaces or market traders. This support comes in the form of £10,000 & £25,000 grants to small businesses that missed out on the coronavirus business rates relief grants announced back in March.
Many small businesses missed out on those grants because they weren’t on their local council’s rates list. The aim of this new fund is to help those small businesses with their fixed property-related costs.
Local authorities are to prioritise businesses in shared spaces mentioned above, as well as those occupying small charity properties, bed and breakfasts that pay council tax instead of business rates and other businesses as they see fit. At their discretion, local authorities may make payments of under £10,000.
To qualify, businesses must have fewer than 50 employees and be able to show that they’ve suffered a significant drop in income as a result of the Covid-19 crisis and resulting restrictions.
This guide, in support of our COVID-19 rapid-fire video series, sees us talking to Mark, our expert from Alma consulting. The following video takes a look at some of the critical questions that commercial tenants are asking them right now, during these very challenging times.
Aside from the other related posts linked around this page, Farillio users can also access our other guides and templates which we're reviewing and updating as the crisis develops...