Sheffield's top city centre businesses "crying out for help" from the government

Industry leaders and politicians want the Government to support businesses in the retail, hospitality and leisure sectors who have a rateable value of more than £51,000.

They are asking the government to expand the threshold from £51,000 up to and including £150,000 which would allow more businesses to access a £25,000 grant in order to survive.

Sheffield BID is supporting the launch of the #RaiseTheBar campaign and says increasing the threshold would provide vital support for 157 businesses - within the wider city, it is estimated that 400 businesses would benefit.

Mark Hobson, managing director of Corporation nightclub and a director at Sheffield BID, said the support would help all businesses in the city.

"Night time economy businesses are absolutely vital to the future of the city and are crying out for help.

"Coronavirus has hit us hard and larger businesses are really suffering. Over 40 city centre clubs, pubs and restaurants have missed out on a £25,000 grant because of the anomaly of rateable value.

"Businesses in this sector are very adaptable and the economy will need them to stave off the threat of cessation, so that they can play their role in rejuvenating the economy and contributing to community wellbeing."

Sheffield BID says feedback from businesses suggests they are carrying significant stock losses and are still facing immediate cash flow challenges that wage subsidies will not address.

Many are not able to take on further debt or have serious misgivings about being able to survive the recovery and service loans.

Co-chair of the City Centre Retailers' Forum and BID director Amanda Phillips, who manages The Moor, said businesses were desperate for help.

"Many retailers are on their knees right now and the abolition of business rates for the financial year is incredibly helpful, but capping the rateable value at less than £51,000 just doesn’t go far enough to help the high street or independent retailers who are facing the biggest challenge from this crisis.”

Sheffield BID is asking everyone from businesses to members of the public to support the campaign and sign this petition

Sheffield BID Manager Diane Jarvis, said: "We acknowledge that by increasing the threshold up to and including £150,000 will increase the burden on central and local government.

"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.

"It is obvious that even with an expansion of the cap, that not all businesses will benefit. What we believe to be important is that the grant scheme is reasonably extended as critically, this will help thousands of businesses in the UK to adapt to the challenges ahead."

The campaign is supported by many industry leaders including British BIDs, the BID Foundation, ATCM, the Night-Time Industries Association, the British Beer & Pub Association, and the Association of Convenience Stores.

The UK economy:

The retail industry generated £394 billion worth of sales in 2019

There are 306,655 retail units across the UK

The leisure sector reached over £111 billion in sales last year

The hospitality sector employs over 3.2 million people

That's 11 per cent of UK jobs, making it the third largest sector in the UK

Hospitality accounts for £130 billion in revenue

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