​Support for business in Bury during Covid-19 outbreak

Council leaders are taking a range of measures to help businesses facing hardship during the Covid-19 outbreak.

The authority is up and running to channel Government money to companies for support on business rates relief and grants to small businesses.

But it also going above and beyond that, with a number of initiatives to help employers and firms at local level.

Local measures:

Commercial Properties Temporary Rent Waiver

The council will ease the pressure on local businesses who rent premises from the council: in retail units, industrial buildings and business centres. These are occupied by a wide range of small to medium sized businesses who are a key source of local employment.

The authority will give a rent holiday of up to two months in the first instance to those who can demonstrate need.

Companies who can show they have been ‘critically’ or ‘significantly’ impacted will be offered 100% and 50% relief respectively. Those whose annual rent is below £6,000 will receive 100% relief.

Bury Market Rent Waiver

All market traders will get a two-month rent holiday, dated from 16 March, with the possibility of more support if the crisis is prolonged. Many could also be eligible for national intervention programmes.

Suspend Debt Chasing

Debt reminders will not be sent out in April in order to remove pressure on businesses.

Immediate payment terms for SMEs

Where we can, we will endeavour to pay our local SMEs as soon as they are received and processed. Our usual payment terms for these businesses will be suspended for now.

This comes on top of the national measures which councils have been asked to implement:

Business Rates Reliefs: all businesses are now receiving a revised rates bill and direct debits will not be claimed from those businesses that no longer have to pay. It is estimated that 400 businesses will benefit from the new reliefs across the borough.

Grants to Small Businesses: all businesses in Bury that are eligible for the grants have been identified and it is estimated that 370 business will be eligible for a grant of £25,000 and 2,800 businesses eligible for a grant of £10,000.

Businesses are being asked to submit their bank details so that payments can start to go out from 1 April when the funding from Government is received.

Councillor David Jones, leader of the council, said: “We’ve created a special team to respond to the business crisis, co-ordinating the national, regional and local responses to the emergency.

“We need to do all we can to support our local employers who are facing unprecedented challenges. Our measures aim to strike the balance between ensuring that businesses who can pay continue to do so, and that those who are suffering hardship are supported.

“We will also be drawing up a recovery plan for once economic life returns to some kind of normality. The importance of driving forwards our major regeneration proposals for central Bury, Radcliffe and Prestwich will be a critical element of a recovery.”

ENDS

Press release issued: 31 March 2020.