In the wake of the recent deluge caused by Storm Babet, the UK Government has launched a package of support to aid businesses adversely affected by the severe flooding.
This targeted assistance is geared toward regions in England that have borne the brunt of localised flooding on an unprecedented scale.
Key provisions of the initiative:
- Council Tax and Business Rates Relief: Enterprises that have suffered substantial losses will qualify for an immediate and substantial respite. Specifically, these businesses will be granted full exemption from council tax and business rates for a minimum period of three months.
- Business Recovery Grant for Small-to-Medium Sized Enterprises: Firms operating in the afflicted regions will have access to the Business Recovery Grant. This resource offers financial support of up to £2,500, facilitating their swift return to normal business operations.
- Property Flood Resilience Repair Grant Scheme: Property owners impacted by the floods can access targeted grants for remediation works. Eligible applicants can secure up to £5,000 to reinforce their properties against the future flooding, bolstering their resilience.
Flood Recovery Framework
This multifaceted support package is administered under the aegis of the Flood Recovery Framework, a mechanism designed to address dire circumstances caused by severe flooding events.
The Framework’s primary objective is to empower local councils and communities in the aftermath of such catastrophic events.
Awaiting updates
Support will be available through the Isle of Wight who will announce further details on eligibility and how to apply once they receive it from the Government.
