Less than 10 percent of government coronavirus support package paid out to retailers

Only 9 percent of the government’s 11 billion pound coronavirus support package has so far been paid out to retailers by local councils, which experts have called “unacceptable”.

Small businesses have been allocated around 1 billion pounds as part of the Small Business Grant Fund. Companies eligible for the scheme can receive a one off cash grant of 10,000 pounds.

The Local Government Association said councils have been working at pace to identify and support eligible businesses to apply for the funding since 1 April.

However, Robert Hayton, head of UK business rates at retail estate adviser Altus Group, described the low level of distribution as “unacceptable”. He said: “Businesses were initially told by the government that they did not need to do anything but are now being told to complete application forms slowing down the process markedly creating additional pressure for small firms already in distress. The money needs to get to those most in need far quicker.”

According to Altus Group, there are 720,400 properties liable for business rates with a rateable value less than 15,000 pounds and are in receipt of small business rates relief. Additionally, grants of up to 25,000 pounds are available for retail, leisure and hospitality premises with a rateable value below 51,000 pounds.

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