The Isle of Wight Council has confirmed it is now in receipt of government grant support amounting to £62.8million to help qualifying Island business ratepayers during the coronavirus crisis.
As previously reported by Island Echo, Business Secretary Alok Sharma last night (Wednesday) confirmed that local authorities up and down the country have received a share of more than £12billion to distribute to businesses. He urged Councils to make payments ‘as quickly as possible’ suggesting that the money would be with Islanders within days.
Now, the Isle of Wight Council has revealed that it is preparing to make payments to those eligible businesses as ‘swiftly as it is able’ and that it is envisaged payments will begin from next week – but is very much dependent on businesses checking if they are eligible and then providing their relevant details to ensure direct payment.
Businesses who believe they are eligible should complete the grant form at www.iow.gov.uk/covid19_businessadvice. This web page also provides details of eligibility criteria. To date, more than 1,730 Island business ratepayers have completed the form since it went online nearly 2 weeks ago.
The grant payments are for eligible business ratepayers in specific categories:
• Small business grant funding of £10,000 for all eligible business in receipt of small business rate relief or rural rate relief
• Grant funding of £10,000 for retail, hospitality and leisure businesses with property with a rateable value of £15,000 and under
• Grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value of more than £15,000 and less than £51,000.
Council leader, Councillor Dave Stewart, said:
“It is excellent news that this much needed funding has now been received from the government, and we are working urgently to get the payments made as soon as we are able. We fully appreciate the severe pressures many businesses are under at this time.
Article continues below this advertisement “It is essential we have the latest up to date details to achieve direct and swift payment for each business, so I would urge those businesses who believe they qualify to complete the form on our website. Thank you to the many who have already done so.
“Our staff are working incredibly hard to process these details and payments on your behalf, so please remain patient while this takes place over the coming days.
“We understand how important these funds are to your business and It is our priority to get payment to you as quickly as we can.
“Meanwhile, we will continue to update details of all areas of government support for businesses, employers, employees and the self-employed via our website at www.iow.gov.uk/covid19_businessadvice.
“We remain committed and determined to ensuring all those who qualify will this receive vital support at this very difficult time.”
Bob Seely MP says:
“I welcome these payments coming through to support Island businesses. I know from speaking to Island businesses and the IW Chamber of Commerce that businesses need that support now.
“It is important these payments are expedited to keep Island businesses alive and people employed.
“I know the IW Council is working hard to ensure these payments get to where they are needed as quickly as possible. I thank them for the important work they are doing.
“More needs to be done to keep our businesses going, and Islanders in employment, but this funding coming through now addresses some initial, major concerns and is an important step in the right direction.”
Ask again. Do those councillors who have businesses qualify, or is that a ‘conflict of interests’ as the council are administering the payments? I guess most have such in a partners name though.
The old “magic handshake” boys will do well out of this.
You can be assured that our councillors will have their snouts wedged firmly in that trough.
The Island Licensing department are demanding their money for renewing Licence fees, yet we are told not too work if your business is none essential, if you run a taxi business tuff because your extortionate fees will still have to be paid.
Aparently the taxi trade are none essential, but bus companies are, however, the taxi trade privid a much better service than bus companies because the taxi trade provides for the vonreble and disabled door to door.
The taxi trade are informed by the Island Licensing department that if you continue to operate during the COVID19 pandemic, it’s at your own risk, and we want your license fees.
Thank you so much Island Council for your help…..
taxi’s are the 6th emergency service!!!!!!
Are those coins still in circulation?
No, they’e in a pile.
Good luck to all. I suspect there will be lots of small limited companies out there which are not eligible for grants and don’t have a clue how their business will be affected (such as those which generate income from commissions or consultancy). Its just fingers crossed time.
If they fluff this up, and cost people their jobs/ homes/ livelihoods, I for one could never forgive them.
Let’s all keep a close eye on this, remember the money it’s not for them.
I trust no one who looks after someone else’s money.
Money makes people do horrible things to one another.
Hopefully not to where I work, as we’re being forced to carry despite being the opposite of essential.
A 3 month freeze on council tax would be nice…..
What ever happens the council will get there bonuses ect and next year council tax will go up to cover losses, no win no gain