Ben R No Comments

SME’s Grant Not Available for Shared Office Tenants

SME’s Grant Not Available

During these tough and uncertain times, the majority of small business owners across the UK were looking forward to a SME’s 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:

  1. Click the link here
  2. Click “sign this petition” and fill in your details.
  3. Confirm your signature via an email that will be sent.

Also …

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 

Source: offices.co.uk