Helping Bury businesses come back better is aim of new grant scheme

Businesses that work from shared premises are the main target of a new grant scheme that aims to boost local economies in the wake of the coronavirus crisis.

A new £2m funding pot is being made available to organisations unable to apply for previous government support because they did not have a rates assessment.

Those who may be eligible to apply for one-off grants that do not have to be repaid include:

• Businesses who operate in shared spaces, for example in a shared office, business unit or industrial unit
• Outdoor market traders, for example those in Bury Market selling non-essential goods who have not been able to work over the past two months
• Bed and breakfast accommodation that pays council tax and has fewer than six bed spaces
• Community centres that have fixed property costs
• Properties run by charities that are in receipt of charitable business rates relief which would otherwise have been eligible for Small Business Rates Relief.

Most payments from the new £1.96m scheme are likely to be under £10,000. Businesses can check eligibility and access the online application form at burymeansbusiness.bury.gov.uk to. They can also e-mail investin@bury.gov.uk for further advice.

Bury Council, via its business rates team, has already distributed £32m to support small and medium businesses under the original government Small Business Grant Fund. A total of 2,733 businesses in the borough have received grants of £10,000 and £25,000.

Councillor Eamonn O’Brien, leader of Bury Council, said: “This new funding will be extremely welcome for businesses that fell through the gaps of criteria for the last funding pot, which offered much-needed support at a really tough time.

“Our business rates team have been working really hard to get the money from the original scheme out into bank accounts, dealing with a flurry of original applications and then pro-actively calling eligible businesses to let them know they can apply.

“Although this new pot is much smaller and for a very specific group of organisations, it’s still extremely valuable. We know there were many small businesses and charities in our borough that missed out on the previous scheme because they paid little or no business rates.

“They include important parts of our local economy, like start-up businesses who work in shared spaces and the outdoor traders who bring visits to Bury Market from all over the country. We’ll be making sure this cash gets into the hands of the people who need it.”

It is expected that once the initial round of payments are made, the scheme will be extended to include businesses that service the hospitality, retail and leisure sectors. These types of business, for example providing supplies to events such as display materials and merchandise, have been identified as an important growth sector in Bury.

ENDS

Issued: 1 June 2020.