Strategic Framework Business Fund (SFBF)

You may recall from the Budget earlier in the month, that the Chancellor announced additional funding would be provided to the retail, hospitality & leisure sectors by means of a restart grant, to help gear up these businesses for re-opening next month, when restrictions are eased.

As of 19 April 2021, all recipients of the SFBF will automatically receive a combined final 2-week payment from the fund, together with a restart grant to help them reopen.  This is broken down as follows:

Retail Sector

• Business premises with rateable value of up to and including £51,000, will receive £7,000, made up of a £1,000 final payment from the SFBF and a restart grant of £6,000.
• Business premises with a rateable value of £51,001 or above, will receive £7,500, made up of a £1,500 final payment from the SFBF and a restart grant of £6,000.

Hospitality & Leisure Sector

• Business premises with rateable value of up to and including £15,000 will receive £9,000, made up of a £1,000 final payment from the SFBF and a restart grant of £8,000.
• Business premises with rateable value of between £15,001 and £51,000 will receive £13,000, made up of a £1,000 final payment from the SFBF and a restart grant of £12,000.
• Business premises with a rateable value of £51,001 or above, will receive £19,500, made up of a £1,500 final payment from the SFBF and a restart grant of £18,000.

Only businesses in receipt of support through the Strategic Framework Business Fund will receive the restart grant.  It is therefore imperative that if there are any businesses out there, who are registered for non-domestic rates and have been forced to close, or their trade has been significantly impacted due to the restrictions in place, they should apply to this fund by 22^nd March (if they have not already done so).  Grants will be backdated to December and of course they will then be eligible for the restart grant.

The restart grant will be paid automatically by local authorities and there is no need to apply for this.