It really isn't clear if these grants ( now £10,000 ) are going to be available to all small businesses with a rateable value below 12,000 , or only those in the retail, leisure, & hospitality sectors.
If anyone can point to a definitive answer, I'd like to see it.
They're not being very clear about these grants, he went into abit more depth about the loans, I'm just on my own so really a loan for the salon is not necessary as i dont have huge overheads or other peoples wages to pay. A grant would be the more feasible option but they didn't really give much information on them
The rate relief is for business premises with a rateable value 12000-51000.
The grants are for businesses with a rateable value less than 12000, which get Small Business Rate Relief (i.e. us). There's no rates to relieve. But we have a hefty rent and other fixed costs every month. I'd be very interested if the grant would help with these. IF it applies to our sector.
Yesterday, Sunak extended the business rates holiday for all businesses in the retail, hospitality and leisure sector for 12 months. The Chancellor’s universal business rate holiday goes one step further than last week’s announcement (which was only eligible for the businesses in those sectors with a rateable value below £51,000) to all businesses.
Sunak offered a further £25,000 grant to retail, hospitality and leisure businesses in smaller premises with a rateable value over £15,000 and below £51,000.
And in another adjustment to last week’s Budget, the Chancellor enhanced the small business rate relief grant of £3,000 to £10,000 (a one-off grant of £10,000 to businesses currently eligible for SBRR or Rural Rate Relief, to help meet their ongoing business costs).
Salon and spa owners need to check with their local authority on how this will work since they do it differently around the country.