Chancellor Rishi Sunak has announced that closed businesses within the retail, hospitality and leisure sectors may be eligible for a one-off cash grant worth up to £9,000.
The grants are allocated on a per-property basis, dependent on its rateable value, to support businesses and protect jobs through the latest COVID-19 restrictions.
The grants are in addition to the 100% business rates relief that is already in force for retail, hospitality and leisure businesses.
It will be the responsibility of the devolved nation’s administrations to allocate funding.
As part of the new relief package there will be a further £594 million made available in a Discretionary Fund for Local Authorities and the Devolved Administrations to support other businesses not eligible for the grants that might be affected by the restrictions. Businesses should apply to their Local Authorities.
The RYA recommends that affiliated clubs, RTCs and those self-employed in our sector contact their Local Authority regarding these latest business grants.
They would also urge businesses within the boating sector to continue researching and contacting Local Authorities about any new business grants and loan schemes.
Each authority may operate different eligibility requirements so it is important to keep checking and keep researching.
You can find further information about applying for the new funding on the GOV.UK website.
If you are an RYA affiliated club, class, or RTC and have a query regarding the above grant applications, get in touch with the RYA Legal team, call: 023 8060 4223 or email: [email protected].