Business support

kath426

Hi can anyone offer some help please? I own a Building Contracting business and employ 27 staff and I feel as though I've fallen through the cracks of all government assistance. We have applied for the business support grant but were rejected due to us moving from our previous premise on the 17th March, I have been told by the council that the cut off was the 20th in Wales but when I go through the governments online checker it states the cut off to be the 11th March. The new premise we are at has a rateable value of £12,750 so we have been told we don't qualify at this premise either. We have also applied for the Economic Resilience Fund but we have had no reply after nearly 3 weeks when I know of companies having their grants already so I'm not hopeful of this. I know there are loans available but I really don't want to go into debt especially when I know of so many business's receiving funding whilst still working at full capacity. I also pay myself in dividends so haven't qualified for personal funding either, any advice on something I may have missed would be greatly appreciated.

Jeremy535897

Presumably you are using CJRS to furlough employees? 

You could try asking for this:
https://www.gov.uk/government/news/top-up-to-local-business-grant-funds-scheme

kath426

Hi, thanks for the reply.
Yes we did furlough some staff and we have a number of these back in work now. Thank you for the link but it seems to only cover businesses in England and I am based in Wales. 

Jeremy535897

Sorry, missed that point. There is a useful summary here, but you have probably gone through all of it.
https://gov.wales/coronavirus-covid-19-support-businesses

kath426

Yes I have exhausted that list, but thank you for your help

kath426

I just don't understand how some businesses that employ no staff and pay no rates have automatically received grants, whereas I am in receipt of no help while having to cover my employees' wages until the furlough money is reimbursed and have to pay rates and rent for my premise.

amykirk1996

kath426 said:

I just don't understand how some businesses that employ no staff and pay no rates have automatically received grants....

Where has this happened?

kath426

It's happening everywhere, if businesses have a rateable value of less than £12,000 they qualify for a £10,000 grant. 

Jeremy535897

That is aimed at small businesses. For larger businesses the focus is on the sectors hardest hit, but you can benefit from CJRS and business loans.

kath426

Yes I understand that but I don't want to go into debt by taking out a loan. My business has a rateable value of £12,750 and I don't qualify for any grant help.

Jeremy535897

kath426 said:

Yes I understand that but I don't want to go into debt by taking out a loan. My business has a rateable value of £12,750 and I don't qualify for any grant help.

It seems to me that your misfortune lies in your timing and your rateable value. In Wales, the timing is based on 20 March rather than 11 March, but the cap on rateable value is £12,000, whereas it is £15,000 in England. You wouldn't have qualified in either country, but for different reasons. The loans have generous terms, and if it is a matter of the business surviving, you need to look at them.