Sunderland Bid calls for more city businesses to get Government help

The city’s Business Improvement District has joined a national campaign urging the Government to offer more support to help retail, hospitality and leisure businesses.

Under the current scheme, only businesses with a rateable value of £51,000 or less are entitled to access a support £25,000 grant.

That means 80% of businesses in the sectors – worth £635billion to the country’s economy – are not eligible for any support.

Launched by Croydon BID, #RaiseTheBar is asking central Government to lift the threshold from £51,000 to £150,000 – allowing more companies to be eligible for grants.

Sunderland BID represents many businesses in the three sectors.

“This is a crucial time for all businesses and we know that many are missing out on getting this Government grant because of their rateable value,” said head of business operations Sharon Appleby.

“The value that these sectors bring to our local economy and to the economy of towns and cities across the UK is huge and they absolutely need our support.

“We are fully behind this campaign and will be adding our voice to those of other BIDS, British BIDS, the BID Foundation, industry trade bodies and politicians to lobby the Government to raise the current threshold.”

As part of the unified national campaign, #RaiseTheBar has written to Business, Secretary Alok Sharma to highlight the plight facing many operators and ask him to lift the threshold.

Matthew Sims, Chief Executive of Croydon BID which has spearhearded the campaign said that he accepted by increasing the threshold up to and including £150,000 would increase the burden on central and local government, but the impact on businesses of failing to do so would be devastating.

“This is a price we believe is worth paying to ensure businesses are given the opportunity to become part of the greater push to mobilise our economy, rather than leaving premises empty, growing unemployment with or without the job retention scheme, and sectors contracting across the board,” he said.

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