Financial support for businesses affected by floodingNovember 28, 2019This article provides information for businesses affected by the floods in Doncaster.
Business Rates – Tel: 01302 734454 Option 2
Any business premises affected by flood damage will qualify for an exemption, 100% relief, from business rates for a minimum period of up to 3 months (6 months for industrial) from the date of the flood when full business rates will be payable. The property needs to be empty.
If any business is struggling, the Business Rates team can also look at ways to support i.e. restructuring payment plans, payment holidays, etc.
If a property wasn’t flooded but a business was told to evacuate by South Yorkshire police, unfortunately there is nothing in business rates legislation that allows for a reduction in these circumstances.
Business Rates may give it to businesses though there may be instances where further evidence will be requested by Business Rates where it’s not clear. Businesses are advised to call.
The Business Recovery Scheme
A hardship scheme is available to businesses whose premises have been affected by flooding.
The Business recovery scheme is for businesses that have been directly impacted and have suffered a loss of trade due to the flooding that cannot be recovered from insurance. There is a grant of up to £2,500 for small and medium-sized business in affected areas to help with immediate recovery.
Open to small and medium businesses which:
Are directly impacted by the weather event - for instance there was flood damage to the property, equipment, and/or stock.
Are indirectly impacted by the weather event – e.g. business has had no/highly restricted access to premises, equipment and/or stock as a result of flooding, restricted access for customers, suppliers and/or staff and directly suffered loss of trade as a result.
Larger businesses that have been seriously affected will be dealt with on a case by case basis.
Applying for the scheme
If the floods have damaged your business, you can call Doncaster Council's dedicated hotline on 01302 737888 on Monday to Friday from 8.30am to 5pm. Staff will be able to support residents to complete the form.
Please have your contact details, council tax reference (if readily available) or business rates reference (if readily available) and bank account details. You will also need to register for a MyDoncaster account if you haven’t already to be able to track your enquiry and to get the outcome.
Doncaster Council aims to process applications within 2-3 days and payments should be made within 24 hours of your claim being processed as eligible.
You can complete the form here: https://www.doncaster.gov.uk/doitonline/flood-claim-form
Finance for Enterprise (formerly DonBAC) Tel: 0333 014 3455
Finance for Enterprise can provide loan finance to any business that is viable or will be viable after the properties are repaired.
Typical loan characteristics:
- Amounts from £1,000 to £250,000
- For early stage and established businesses, typically with a minimum of 3 employees.
- New/start-up business considered if viability can be demonstrated.
- Sole traders, partnerships or limited companies may apply.
- Charities and Social Enterprises may also apply.
- Working capital
- Purchase of equipment or machinery
- Business expansion
- Business assets considered as security if available.
- Enterprise Finance Guarantee Scheme will usually be considered.
- Personal guarantees from the director(s) (unsupported) are usually required for limited company lending.
- Interest rate parameters 9% – 15% over Bank of England base rate, calculated on reducing balance.
- Arrangement fee 3%
- 3 year repayment for loans up to £25,000
- Longer term considered for higher values (subject to maximum 7 years).
The Royal Agricultural Benevolent Institution (R.A.B.I) Grant Support to Local Farmers
R.A.B.I is farming’s oldest and largest charity and have been serving the farming community since 1860. They offer financial support, practical care and guidance to farming people of all ages, including farmers, farmworkers and dependants.
Grants range from £500-£25,000
They have launched their Crisis Fund to provide emergency grants to farming families affected by the floods via their Helpline – 0808 281 9490
The Department for Environment, Food and Rural Affairs (Defra)
Defra has extended its Farming Recovery Fund to support farmers badly affected by the recent flooding. Through this scheme, farmers and land managers who have suffered uninsurable damage to their property will be able to apply for grants of between £500 and £25,000 to cover repair costs.
Links are here to the guidance and application form https://www.gov.uk/government/publications/farming-recovery-fund-2019-guidance-and-application-form
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