During these tough and uncertain times, the majority of small business owners across the UK were looking forward to a small business grant as a lifeline to keep going. However, a loophole in the system means thousands of businesses in free-fall have fallen through the safety net. With little time and money left for businesses would now be a bad time to help? The Government petition is gathering momentum and we need your help to open talks to save small businesses.
What is the loophole?
If you occupy a serviced office space like the many tenants in our Highstone House offices. Rates are included (bundled into the serviced package.) Therefore, you are not eligible for Covid-19 help.
Office expert Jonathan Ratcliffe from Offices.co.uk “Put simply, if you don’t have a business rates account for your business with your local authority you get nothing. It’s a very unfair situation.”
Money Businesses are missing out on:
The figures have been sorted into regions:
Leeds – 3% of all small businesses in 108 serviced offices = £54m
Birmingham – 5% of all small businesses in 123 serviced offices = £61m
Manchester – 4% of all small businesses in 188 serviced offices = £94m
Bristol – 5% of all small businesses in 115 serviced offices = £57m
Nottingham – 5% of all small businesses in 80 serviced offices = £40m
Sheffield – 5% of all small businesses in 59 serviced offices = £30m
Milton Keynes – 5% of all small businesses in 37 serviced offices = £18m
Newcastle – 5% of all small businesses in 59 serviced offices = £30m
Liverpool – 6% of all small businesses in 70 serviced offices = £35m
Brighton – 5% of all small businesses in 36 serviced offices = £18m
Northampton – 5% of all small businesses in 37 serviced offices = £18.5m
Cardiff – 3% of all small businesses in 41 serviced offices = £20.5m
Oxford – 2% of all small businesses in 33 serviced offices = £16.5m
Cambridge – 3% of all small businesses in 42 serviced offices = £21m
How can we help?
You can help support struggling small businesses in 3 simple steps that take almost 1 minute:
- Click the link here
- Click “sign this petition” and fill in your details.
- Confirm your signature via an email that will be sent.
If you are a tenant of a shared property I encourage you to also email your local MP. A template email is available here. Covid-19 small business help template