City of Wolverhampton Council confirms new business grants details

City of Wolverhampton Council has confirmed details of how city businesses affected by the Coronavirus local restrictions and national lockdown can access new Government support grants.

The Local Restrictions Support Grant (LRSG) will support businesses in the hospitality, leisure and retail sector who were forced to close from November 4, 2020.

Business will receive monthly grants with the amount based on their rateable value as set out in the table below:

Rateable value

Grant sum paid every 4 weeks

£14,999 and below

£1,334

£15,000 to £50,999

£2,000

£51,000 and above

£3,000

An Additional Restriction Grant (ARG) is also available to assist Wolverhampton businesses affected by the lockdown, but who are not on a rating list, do not occupy commercial premises and have been severely affected since November 4. Rateable business not eligible for LRSG can also apply for ARG.

Businesses who apply for the ARG will also be able to take advantage of business guidance from the council’s business development team.                                                                                                                          

Please visit www.wolverhampton.gov.uk/businessgrants from 4pm on Monday, November 16, 2020, to check your eligibility for the grants and find out how to access the online application process.

 

Councillor Stephen Simkins, Cabinet Member for City Economy, said: “I am urging Wolverhampton businesses to head to the Wolves in Business website next week and find out what funding is available to them at this critical time.

As a council, we have ensured thousands of eligible businesses have had quick access to vital funding to help them through this most difficult time.

We will ensure these new grants get allocated swiftly and that no business is left behind as our city looks to recover from the financial impact of Covid-19.

All of the grants are subject to State Aid rules and are treated as taxable income.

The latest Government information on business grants and support can be viewed at https://bit.ly/32H66MX