District Council hits new milestone in supporting businesses
Newark and Sherwood District Council has reached a new milestone in paying out support grants to businesses affected by the Covid19 pandemic with more than £24.3million distributed to 2,052 recipients.
It keeps the Council in the top 10 of 314 local authorities throughout England and the best performer in terms of percentage payouts in Nottinghamshire.
The Council has been leading the way in ensuring that much-needed Central Government funds reach businesses to help see them through the crisis.
Businesses have been delighted with the speed with which the Council has responded to their needs, helping safeguard jobs and livelihoods across a wide spectrum of economic activity, as well as those in the sporting and cultural sectors.
Newark Town Football Club is one of the 2,052 recipients and its vice-chairman Sarah Robinson explained how important the financial assistance had been in maintaining its finances at a time when fund-raising and sponsorship activities had to come to a halt because of the pandemic, leaving it with no other income stream.
She said: “When we’ve all been feeling the lows of this pandemic, this incredible payment has lifted our spirits higher than we could ever have imagined. I’m lost for words.
“We are one of the largest clubs in the area with in excess of 25 teams and as well as the senior section, there are lots of children, parents and volunteers involved. Sport and physical activity is so important for health and well-being and while there are a lot of restrictions placed on this at the moment, it’s vital for the club to be able to keep going for the future.”
The Council recognises the importance of making sure businesses have the funds to stay afloat and has being using a swift but secure process to ensure funds land in the right place. It has now paid out, in an efficient and effective manner, to 97.2 per cent of businesses from its original target of 2,100.
On one single day, since the pandemic unfolded, more than £5.6 million was paid out with firms receiving £10,000 or £25,000 depending on their circumstances.
The Council’s finance and revenues and benefits teams are now working through the remaining businesses that have yet to receive their money – whereas some local authorities have still paid out less than 50 per cent.
Due to the issues that were presented by the pandemic, rather than waiting for central government funds to arrive to pay for the scheme, the Council initially used its own resources, re-prioritising its cash flow to make the payments.
If a business has a Rateable Value of less than £15,000 or is in the retail, hospitality and leisure sector with a Rateable Value of less than £51,000 and has not received a grant then it should contact the Council before May 31.
Councillor David Lloyd, Leader of Newark and Sherwood District Council, said: “At a time when there is so much uncertainty for business, not just in Newark and Sherwood, but throughout the UK, we are pleased that we have been able to assist in ensuring firms receive this vital support as a matter of urgency. Colleagues in our finance and revenues and benefits teams have been magnificent as has the entire Council team in responding to this crisis.”
There are three types of support for businesses which were announced at the onset of the Coronavirus pandemic. Firstly, a £10,000 grant per business property in receipt of Small Business Rates Relief and Rural Rates Relief or secondly, a £10,000 grant per business property in the Retail, Hospitality, and Leisure Sector with rateable value of £15k or less at March 11, 2020 (If businesses fall within both categories 1 and 2 above, the maximum grant eligible will be £10,000). Thirdly, a£25,000 grant per business property is payable to businesses in the Retail, Hospitality, and Leisure Sector with a rateable value of more than £15k but less than £51k as of March 11, 2020.
For those businesses which have not yet submitted their bank details please use the online form at