Businesses that were forced to close under the second national lockdown restrictions legislation and were not eligible for the Local Restrictions Support Grant, can now apply for the Additional Restrictions Grant and receive a one-off payment from Watford Borough Council.
The Additional Restrictions Grant is also available to businesses that have been allowed to stay open but have had a significant financial impact because of the national lockdown restrictions, such as those that supply the retail, hospitality and leisure sectors. It is these businesses, along with those outside of the business rates system that were forced to close which the scheme looks to prioritise.
Applications for the Additional Restrictions Grant will be open until 18 December. You can apply and read the full eligibility criteria at www.watford.gov.uk/ARG-Grant.
The rate of payment for eligible businesses will be as follows.
For businesses paying business rates as the registered account holder, grants will be paid out according to rateable value:
£15,000 or less, a cash grant of £1,000
£15,000 and less than £51,000, a cash grant of £2,000
£51,000 or above, a cash grant of £3,000
For businesses that do not pay business rates, but are occupying commercial property with a fixed annual rental cost, grants will be paid out according to level of rent:
£15,000 or less, a cash grant of £1,000
£15,000 and less than £51,000, a cash grant of £2,000
£51,000 or above, a cash grant of £3,000
Elected Mayor of Watford Peter Taylor said “Our small businesses are the lifeblood of Watford’s economy, providing thousands of jobs for local people and making a vital contribution to the success of our town. We know how difficult businesses found the second lockdown and restrictions imposed, so I would urge anyone who thinks they meet the criteria to apply for this funding. Our team will be working flat out to process applications and to make decisions quickly so the money gets to local businesses”.
So far, 381 businesses have been paid a total of £641,820 in Local Restriction Support Grants over three weeks, and applications remain open for that grant. For more information, please visit www.watford.gov.uk/businessgrants
To further support businesses, the council have also partnered with not-for-profit and social enterprise Wenta, to launch a free business support programme tailored to the needs of local businesses and residents across Watford. The programme provides free of charge services including one-to-one business advice, skills training webinars and workshops, access to co-working, incubation space for small businesses and specialist support. For more information, visit www.watfordbusiness.com/recovery