Covid-19 update: Millions of pounds in funding distributed to Barrow businesses

MILLIONS of pounds in government grants have been distributed to businesses across Barrow.

So far, £2.805 million has been paid to businesses in the borough under financial assistance schemes announced by the government last month.

Now, a call has gone out for more of Barrow’s 1,300 eligible firms to provide the required information so they can receive grants without delay.

Councillor Ann Thomson, leader of Barrow Borough Council, said: “This funding is absolutely crucial for businesses which are not currently able to trade because of the devastating Covid-19 outbreak we are experiencing nationwide.

“The team is working incredibly hard to process the details we’ve received from businesses so far.

“But we would urge more to get in touch so that we can make sure this money reaches everyone eligible as quickly as possible.”

There are two streams of government funding available to help businesses affected by the coronavirus pandemic.

Small businesses which already receive Small Business Rate Relief or Rural Rate Relief can apply for a one off grant of £10,000 to help with ongoing business costs.

While businesses operating in the hospitality, leisure or retail sector can apply for a one off cash grant of £25,000 if they have a rateable value of between £15,000 and £51,000.

Nearly £1 million was distributed to businesses eligible for one of these schemes within just four days of their launch in Barrow.

The borough council is now making several payment runs every week to to transfer money to businesses as soon as possible

Cllr Thomson added: “We need businesses to know about these schemes and the financial help available to them.

“So far we’ve received applications from fewer than half of those eligible.

“We would urge businesses to get in touch - make sure you’ve provided us with the details we need so that we can get this money to you as soon as possible.”

The information required from eligible businesses is:

Ratepayer name

Business address

Companies House number

Business Rates account number

VAT number

Bank account details including sort code, account number.

Businesses can send their information on downloadable data collection forms available online via the Covid-19 Info page. 

Alternatively, forms can also be printed out, completed, and posted to: Business Support Grant, Barrow Borough Council, Town Hall, Duke Street, Barrow-in-Furness, Cumbria, LA14 2LD.