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Business Support – Latest Updates

RBKC News. The Local Restrictions Support Scheme Grants page has been updated with the following:

On Thursday 22 October 2020, the Government announced funding to be provided to certain businesses in Tier 2 areas through the Local Restrictions Support Scheme in the form of grants, delivered through the Council. The application form for the Local Restrictions Support grants for closed businesses (detailed below) will also capture the required information to identify businesses eligible for the grants for the two weeks that the borough was within Tier 2 so these payments can also be made quickly.

Local Restrictions Support (Closed businesses)

The Government has announced additional funding to support businesses impacted by the 28-day national restrictions which came into place on Thursday 5 November. Government guidance is now available and is focussed around support to businesses in the retail, leisure and hospitality sector forced to close following the new restrictions. Eligibility is determined by Government and for those eligible, financial support will be:

Premises with a rateable value of £15k or under, grants to be £1,334 per 28 days of restrictions;
Premises with a rateable value of between £15k-£51k grants to be £2,000 per 28 days; and
Premises with a rateable value of £51k or over grants to be £3,000 per 28 days.

This page will be updated with the full eligibility information and application form shortly.

Additional Restrictions Grant

In addition to the funding for closed businesses (as above), all Local Authorities are being provided with funding equivalent to £20 per head (£3.1m for Kensington and Chelsea) to support businesses and the wider economy. The Government guidance suggests this one-off local Additional Restrictions Grant fund should help those businesses which have not been legally forced to close, and therefore are not entitled to the grant above, but nonetheless have been severely impacted by the restrictions put in place. 

We are currently developing the eligibility criteria for this discretionary scheme and want to support those businesses who still have the challenge of paying high fixed costs at a time when their income levels have been significantly impacted. We also want to use this discretionary scheme to support those who may not be benefiting from other Government grants and other support. This page will be updated with the full eligibility information and application form shortly.