Instreatham has been actively monitoring the Coronavirus outbreak here in the UK
We have been communicating directly with the government, on a local and national level. This is helping to ensure our businesses get exactly what they need.
We want to reassure you that we are continuously working in the background to maintain the value we give our members.
Some projects are still running and we’ll keep members informed of any developments with our activities.
At Instreatham BID we will continue to provide a voice for business within Streatham and continue to offer clarification and guidance to our members.
We encourage all Streatham businesses to check with their insurer as you may be entitled to an insurance payout that was denied earlier in the pandemic. Insurance companies that initially rejected claims from businesses for losses due to the coronavirus […]
The Chancellor announced £4.6 billion in new lockdown grants to support businesses and protect jobs in the retail, hospitality and leisure sectors. The cash is provided on a per-property basis to support businesses through the latest restrictions, and is expected […]
Apply now: Local Restrictions Support Grants Tiers 2 & 3 – and ‘Christmas Support Payment for Wet-Led Pubs’
Applications are now open for Government grants for the periods of time Lambeth was under Tier 2 and Tier 3 restrictions. This includes: Grants for businesses in the Hospitality, Leisure and Accommodation sectors that have remained open but severely impacted by Tier […]
The first round of Lambeth’s Economic Resilience Fund will open for applications in January 2021, to help support Lambeth businesses who have been impacted by the Coronavirus pandemic. Lambeth Council will be making £3.2 million available in this first phase to […]
From Wednesday 16th of December, London will move to Very High alert (Tier 3). Businesses that can stay open: All shops, including non-essential retail. Leisure and sports facilities (however group exercise classes should not go ahead and saunas and steam […]
Bounce Back Better Campaign – Call for special support measures for retail, hospitality and leisure businesses!
Businesses in hospitality need help – they need it now! The financial support for businesses is totally inadequate as 99% of England is placed in to Tier 2 and Tier 3. That’s why we’re supporting the #BounceBackBetter campaign, asking for […]
Government support for businesses
The government have announced broader financial support for businesses coping with the economic impact of coronavirus. This includes:
A new support package for businesses affected by high-level (Tier 2) COVID restrictions.
The grants are aimed at businesses in the hospitality and leisure sector and will be allocated to local authorities soon. The funding local authorities will receive will be based on the number of hospitality, hotel, B&B, and leisure businesses in their area, and will assume that these businesses receive grants equivalent to 70% of the grants for which legally closed businesses are eligible.
This would be equivalent to:
- For properties with an RV of £15k or under, grants of £934 per month
- For properties with an RV above £15k and below £51k, grants of £1,400 per month
- For properties with an RV of £51k or above, grants of £2,100 per month
It will be up to Local Authorities to determine what precise funding to allocate to each business – the above levels are only an approximate guide.
Local authorities will also receive a 5% top up amount to these implied grant amounts to cover other businesses that might be affected by the local restrictions, but which may not be in the business rates system.
Who is eligible?
Local authorities have the freedom to determine the precise eligibility criteria for these grants in their local areas. The guiding principle for local authorities is to use the funding to support businesses which have not been legally required to close, but which are nonetheless severely impacted by reduced demand caused by Tier 2 restrictions on socialising.
How can businesses access the grants?
Grants will be administered by Local Authorities, and businesses are likely to need to apply to their local authority for support. It is up to local authorities to determine the payment schedule and timings for these grants.
What can businesses use the grants for?
Businesses can choose to spend the grants as they wish. We expect that many businesses will use the grants to cover high fixed property-related costs.
What about areas which have been living under Tier 2-equivalent restrictions for several months already? Will you help them?
Some areas have been subject to restrictions on socialising for several months, before the tiering system was introduced. Funding for these areas will be backdated until the point at which these restrictions began.
This scheme will initially run until April, with a review point in January. Further information here.
Business Support Helpline
As of March 23rd our staff will work remotely and will continue to be operational during business hours, Monday to Thursday, 9:00 – 17:30. We are available to offer support through all of our channels. If you would like to book a phone consultation to discuss ways in which we can support you please email us to set this up.