Businesses Forced to Close due to the Government’s New Restrictions Urged to Apply for Financial Support

READING businesses that have had to close because of the new national Covid 19 restrictions are being urged to apply for financial support from the Council.

The Local Restrictions Support Grant (LRSG) is available to eligible businesses that have been mandated to close by Government. These include non-essential retail, hospitality venues, accommodation, leisure and sports facilities, entertainment venues, personal care, community centres and halls. Eligible businesses will be paid a fixed grant to cover the four-week restriction period. Businesses with more than one qualifying property, will receive more than one grant. For more information and to apply go to https://www.reading.gov.uk/coronavirus-covid-19/coronavirus-business-information/covid-19-support-for-business/financial-support-for-businesses-and-charities/local-restrictions-support-grant/ To qualify for the local grant, business must be based in Reading Borough and:
  • Have been open as usual before the restrictions
  • Providing services in person to customers from the premises
  • Required to close due to restrictions imposed by Government
  • Registered for business rates for the premises before restrictions commenced
Businesses which have had to remain closed since the Government initially imposed lockdown restrictions back on March 23rd, may also be eligible. Firms which have closed, but are operating a click and collect service, are also being asked to fill in the application form. LRSG is a mandatory grant for businesses that have a rateable value. The scheme is not based on eligibility for rate reliefs.

Councillor Jason Brock, Reading Borough Council Leader, said:

“The new restrictions signal yet another very difficult time for local businesses, many of which have had to close for a four-week period. “We would strongly encourage local business owners to find out if they are eligible and apply for the financial support which the Council is making available. The money provides a lifeline for many local firms and we want to see each and every one of them get the money they are entitled to as quickly as possible, and within 5 working days of receipt of application for eligible businesses. “The Council, along with our economic development partner Reading UK, will work to get the message out to as many businesses as possible and we would encourage Reading businesses, through their own local networks, to do the same.”

Nigel Horton Baker of Reading UK added:

"The new LRSG grants will provide some much-needed financial support for those businesses impacted by the new national restrictions and Reading UK would therefore urge all eligible businesses to apply as quickly as possible to secure this lifeline. As Reading’s economic development agency, we’ll continue to work alongside the Council to get the message out locally and would encourage businesses to visit www.livingreading.co.uk for the range of other economic support and advice available." The rate of payment for eligible businesses will be:
  • Businesses occupying hereditaments appearing on the local rating list with a rateable value of exactly £15,000 or under on the date of the commencement of the widespread national restrictions will receive a payment of £1,334 per 28-day qualifying restriction period.
  • Businesses occupying hereditaments appearing on the local rating list with a rateable value over £15,000 and less than £51,000 on the date of the commencement of the widespread national restrictions will receive a payment of £2,000 per 28-day qualifying restriction period.
  • Businesses occupying hereditaments appearing on the local rating list with a rateable value of exactly £51,000 or above on the commencement date of the widespread national restrictions, will receive £3,000 per 28-day qualifying restriction period.
Businesses in administration, insolvent or where a striking-off notice has been made are not eligible for funding under this scheme.