Coronavirus: Further £6 million funding boost to help Shropshire businesses - SYST Business

Coronavirus: Further £6 million funding boost to help Shropshire businesses

Shropshire businesses which have been hit by the current third Lockdown will be supported through a new £6 million round of grants.

Shropshire Council has today announced it has started processing the latest round of Local Restrictions Support Grants to firms across the county – and once more, businesses will receive payments without having to apply again.

Instead, those who have previously applied and been successful will be paid out automatically, with the money set to start being processed by the end of this week.

The latest round of support takes the total amount of business grant funding handed out to firms by Shropshire Council to £125 million since the start of the coronavirus pandemic in March 2020.

The latest grant payment will cover a 44-day period from 16 February 2021 to 31 March 2021, and eligible businesses will receive the following amounts depending on their rateable value.

  • A qualifying business with a rateable value of exactly £15,000 or under will receive a payment of £2,096 per 44-day qualifying period
  • A qualifying business with a rateable value over £15,000 and less than £51,000 will receive a payment of £3,143 per 44-day qualifying period
  • A qualifying business with a rateable value of exactly £51,000 or above will receive a payment of £4,714 per 44-day qualifying period

Steve Charmley, Deputy Leader and Cabinet member for assets, economic growth and regeneration said:

“We are completely aware of what a worrying time this has continued to be for businesses across the county, but I am so pleased that we are already well under way with the latest round of support grants.

“We have so many wonderful businesses across Shropshire and we are working hard to process this money as quickly as possible. The fact that we have handed out £125 million to support the county’s businesses is something to be proud of.

“We will always work hard to support firms across Shropshire and ensure that the county is the ideal place to do business.

“It is again particularly helpful that those businesses that applied for an LRSG previously will be automatically paid out.

“Shropshire Council is here to support businesses in many different ways, and we are also running a series of webinars and support schemes as well as processing these vital grants.”

Originally published by The Shropshire Newsroom