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Corornavirus Business Rates Grant Scheme - Serviced Offices miss out

Corornavirus Business Rates Grant Scheme - Serviced Offices miss out

We have been again hitting the press in a huge drive to ask Chancellor Rishi Sunak for the following adjustments to the Small Business Grant Funding scheme for small businesses:

  1. Recognise all Serviced Office and Co-working tenants as “small businesses with a Rateable Value (RV) of £15,000 and under”
  2. Make available cash grants of £10,000 for these tenants immediately
  3. Pay this grant before the 30th April 2020

The amounts of money being missed out on are staggering, here are our figures for the regions:

Leeds – 3% of all small businesses in 108 serviced offices = £54m

Birmingham – 5% of all small businesses in 123 serviced offices = £61m

Manchester – 4% of all small businesses in 188 serviced offices = £94m

Bristol – 5% of all small businesses in 115 serviced offices = £57m

Nottingham – 5% of all small businesses in 80 serviced offices = £40m

Sheffield – 5% of all small businesses in 59 serviced offices = £30m

Milton Keynes – 5% of all small businesses in 37 serviced offices = £18m

Newcastle – 5% of all small businesses in 59 serviced offices = £30m

Liverpool – 6% of all small businesses in 70 serviced offices = £35m

Brighton – 5% of all small businesses in 36 serviced offices = £18m

Northampton – 5% of all small businesses in 37 serviced offices = £18.5m

Cardiff – 3% of all small businesses in 41 serviced offices = £20.5m

Oxford – 2% of all small businesses in 33 serviced offices = £16.5m

Cambridge – 3% of all small businesses in 42 serviced offices = £21m

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