COVID-19 is the biggest challenge most businesses across our region have ever faced – but thousands of firms across South Yorkshire still have not accessed financial support they’re entitled to. Over to the team at Sheffield City Region to outline what’s available and how to apply
Although support has been made available to businesses across the Sheffield City Region as a result of COVID-19, it can be hard to navigate the various sources of funding and advice.
One issue known to be affecting our region is that of small businesses not being aware they’re eligible for specific Government funding streams, introduced to help businesses struggling to cope with the financial impact of COVID-19.
As a result, thousands of businesses across South Yorkshire still have not accessed financial support they’re entitled to. Different types of grants are available, all of which are being administered through local councils.
These grants consist of:
- £10,000 for businesses in receipt of Small Business Rates Relief (SBRR) or Rural Rates Relief
- £10,000 for retail, hospitality or leisure businesses with a rateable value of £15,000 or less
- £25,000 for retail, hospitality and leisure businesses with a rateable value between £15,000 and £51,000
Other sources of support available include loans and tax relief, as well as these cash grants – whether businesses are open or closed.
James Muir (pictured), chair of the Sheffield City Region Local Enterprise Partnership, said: “We know COVID-19 is the greatest challenge most of the businesses across our region will have faced. That’s why Government has made this extra support available, and is also why our Growth Hub is there to provide bespoke expert advice to all businesses across our region, whatever their size or sector.
“However, we also know that a large number of businesses still have not accessed the funding to which they are entitled. This may be for any number of reasons, but I believe many businesses aren’t aware they’re eligible.
“I would therefore strongly encourage all retail, hospitality or leisure businesses, or those eligible for Small Business Rates Relief or Rural Rates Relief, to contact the Sheffield City Region Growth Hub for individual, tailored support, including help with accessing the available funding streams.”
To steer a path through these grants and other sources of business support, a full package of bespoke advice is available online through the Sheffield City Region Growth Hub. Contact details are available on the website, as are full details of all support available.
Businesses can also contact business support teams, and apply for the funding they’re entitled to, through their own local authorities in Barnsley, Doncaster, Rotherham and Sheffield.
Cllr Tim Cheetham, Barnsley Council’s spokesperson for Regeneration and Culture, said: “We acted very quickly to support a large number of businesses with access to grants.
“We’ve now paid out over £36m but we’re aware that there are still those who are eligible but have yet to get in touch. Our Enterprising Barnsley website remains our hub for business information and online business advisers are there ready to answer any queries.”
Cllr Bill Mordue, Doncaster Council’s Cabinet Member for Business, Skills and Economic Development, said: “We have already paid out £48.3m to 4,275 businesses. However, there are still local businesses out there who have not submitted their details to receive the grant payment. I would urge them to get in touch and get support, so they have every chance of surviving this crisis.”
Councillor Denise Lelliott, Cabinet Member for Jobs and the Local Economy, said: “The Council has prioritised the fast payment of grants to businesses because we know they are a lifeline to many firms, in fact in just a few weeks we’ve processed payments worth in excess of £36m to more than 3,100 businesses.
“But we’re desperate to hear from those businesses who are yet to apply – it’s an easy and quick process, we just need a small amount of information and we will get payments for eligible businesses turned round with the cash in bank accounts within days.
“We know this support will make a huge difference in helping to keep companies afloat, local people in jobs and in helping our local economy to recover quicker as we begin the exit from coronavirus restrictions.”
Councillor Mazher Iqbal, Cabinet Member for Business and Investment at Sheffield City Council, said: “More than 7,000 businesses in Sheffield have already applied for a COVID-19 business support grant, but we know there are still many businesses who are yet to apply and benefit from this funding.
“We’re contacting eligible businesses this week to remind them to apply, but it’s also really worth checking to see if your business fits the criteria. The grants are one-off payments that businesses don’t need to pay back, and can help sustain your short-term cash flow in this challenging time.
“To check if you’re eligible in Sheffield, you can submit an application via the Council’s website – you’ll just need to have your business rate account number to hand.
“I’d encourage all business owners to check their eligibility to make sure you don’t miss out.”
For further information, all businesses in South Yorkshire can visit the Sheffield City Region Growth Hub website at bit.ly/3d6jEVn.
