Allocations to the Business Support Scheme where made today, with Sevenoaks District Council allocated £172,500. Businesses that have been significantly affected by the recent flooding can apply to this fund to claim for loss of trade due top being closed, damaged stock and high-clean-up costs.
This allocation represents the first tranche of funding from the £10 million Business Support Scheme announced by the Prime Minister this week.
As part of the Government’s ongoing work to deal with the floods, the Prime Minister has this week set out further support for businesses in areas affected by flooding.
The following help is available:
• A new Business Support Scheme worth up to £10million to provide hardship funding for SME businesses in areas affected by the floods. Both businesses that have been flooded, and businesses that are in affected areas and have suffered significant loss of trade, will be able to apply for support. Eligible businesses will be able to claim for funding for things like immediate clean-up costs, materials, and exceptional costs to help them continue trading;
• All affected businesses will get 100 per cent business rate relief for 3 months and will also get an extra 3 months to pay the business taxes they owe to HMRC as they get back on their feet;
• A £5,000 “repair and renew” grant for all affected homeowners and businesses – this will top up any money received from insurers to ensure flood resilience is built into homes and businesses as they are repaired;
• A £10 million fund for farmers suffering water-logged fields to help restore it to farmable land as quickly as possible;
• Extra time for businesses to file accounts without any penalties. If any affected company is unable to file accounts or other documents on time as a direct result of the floods, Companies House will agree an extension and not collect the penalties which apply for late filings;
• A Government Business Support Helpline is providing comprehensive advice and support to businesses affected by floods. The Helpline will offer a free one hour call with a dedicated Business Support Adviser to help businesses get back on their feet. The helpline number is 0300 456 3565 and can take calls from flood affected businesses now.
On Monday 17th February the Prime Minister David Cameron MP said:
“The Government is taking action across the board to deal with the clear-up and help hard-working people affected by the floods. Today I am announcing further support for businesses hit to help them get back on their feet. Dealing with these floods will be a long haul, requiring a stepped-up national effort with the whole country pulling together. We will continue to help the people who need help and protect the communities that need protecting.”