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.
Many businesses are now re-opening, and adapting how they work to incorporate social distancing. We’re here to support you to safely reopen. Below is a suite of offers that will ensure you feel confident about taking the next steps to […]
Please click the link below to access free notices which you can print and display on your premises to help customers to maintain social distancing. Social distancing guide for businesses This is the revised guidance for businesses (13th May), so […]
Navitas have put together sector specific Covid-19 Control Guidance Notes and a supporting Certification Scheme to re-align customer assurance. It looks at the steps necessary to ensure a safe re-opening, explains how to complete the checks required, and how to […]
In response to the Coronavirus (COVID-19) crisis, we have developed a series of virtual webinars on business support and preparation for recovery. The series is one of our support channels to help our members navigate the new business landscape created […]
As we start to prepare for the re-opening of stores it is likely that some virus control restrictions will continue to be necessary to limit transmission. The safety and wellbeing of every retailers’ staff and customers is a top priority. The […]
We have joined the #RaiseTheBar campaign in partnership with industry trade bodies across the UK including other British Business Improvement Districts, BID Foundation and ATCM, to support our BID members in the retail, hospitality and leisure sectors. The campaign calls on the Government to […]
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.