Supporting Camden’s businesses - now and in the future
Camden Council is striving to ensure that no businesses get left behind in Camden as a result of the coronavirus pandemic.
“The coronavirus pandemic has caused an unpresented impact across all areas of daily life, including our Camden based businesses.
“We know that many are worried about their ability to pay business rates or rent, and we are working hard to support these, both during this initial period and also going forward toward towards an eventual recovery.
“We have quickly identified how we could support local businesses, whilst also building an understanding of the recent Government announcements, what they mean for Camden businesses and what systems were needed to be put in place.”
The council have written to all businesses who are eligible for support, providing them further information on the assistance available and how to apply for this.
There are two grant funding schemes available, the Small Business Grant Fund and the Retail, Hospitality and Leisure Grant Fund.
Further information on the two grants is available on the government website.
· So far the council has paid 1,549 awards of the £25,000 business grant, totalling £38.75m.
· It has awarded 100 percent rate relief to 4436 retail, leisure and hospitality properties, totalling £195m in rates
It is also in the process of collecting details from businesses eligible for both the £10,000 and £25,000 grants as well as contacting commercial tenants in Camden Council-owned properties to provide support where we can to those who are facing difficulty in paying their rent.
“To assist our businesses to the best of our ability and to try and ensure their long term stability, it is vital that we aim to do more.
“With this in mind, we are asking Camden’s Business Improvement Districts (BIDS) to write to landlords of our businesses, asking them to provide a flexible and realistic approach to their tenants’ rents in the coming months.
“We are continuing to listen to our local businesses and want to hear more on how we can support them in both the short and long term.
“This is why we are in the early stages of setting up a group to look how best to support the recovery of our businesses, once the coronavirus is under control.
“We want to ensure that the voice of Camden’s businesses are represented, so we would be grateful for your stories about how this challenge is affecting you, your staff and your community so we can effectively lobby the government.”
Let us know your thoughts by completing the following survey.
- Head to the council’s Coronavirus web pages to find out what we are doing to support businesses and how government support can be accessed.
- If you received small business rates relief as of 11 March 2020, you’ll be eligible for a Small Business Support Grant Fund payment of £10,000. This includes those in receipt of tapered relief (where your rateable value falls between £12,000 - £15,000).
- If your business is in the retail, hospitality or leisure industry, you’ll be eligible for a grant payment through the Retail, Hospitality and Leisure Business Grant fund. If your rateable value is £15,000 or less, you’ll be entitled to a grant of £10,000. If your rateable value is greater than £15,000 and less than £51,000, you’ll be entitled to a grant of £25,000.