Grant funding now available for businesses in Portsmouth area

Portsmouth City Council has announced that funding and guidance has now been received from the Government. The Council will now start preparations to make payments to businesses eligible for the Small Business Grant Fund or the Retail, Hospitality and Leisure Business Fund.

Many local marine businesses will fall into one of these categories, but are encouraged to check if they are eligible on the website (https://www.portsmouth.gov.uk/ext/coronavirus-covid-19/business-rates-coronavirus-information).

Small Business Grant Fund
Under the Small Business Grant Fund, all businesses in England receiving small business rates relief with a rateable value of less than £15,000 will be eligible for a grant of £10,000.

Retail, Hospitality and Leisure Business Grant Fund
Under the Retail, Hospitality and Leisure Business Grant Fund, businesses in England receiving the expanded retail discount (which covers retail, hospitality and leisure) with a rateable value of less than £51,000 will be eligible for the following cash grants per property:

• Eligible businesses in these sectors with a property that has a rateable value of up to £15,000 will receive a grant of £10,000, in line with the eligibility criteria
• Eligible businesses in these sectors with a property that has a rateable value of over £15,000 and less than £51,000 will receive a grant of £25,000, in line with the eligibility criteria

Portsmouth City Council urges businesses to apply by completing the online form as soon as possible but to check if they are eligible first on the website (https://www.portsmouth.gov.uk/ext/coronavirus-covid-19/business-rates-coronavirus-information).