A £5m relief package has been unveiled to support struggling businesses in Barnsley, aiming to revitalize the town’s high street, Barnsley Council has announced.
The scheme will provide financial assistance to eligible businesses in the retail, hospitality, and leisure sectors, covering up to 60% of their business rates. Additionally, a business support fund will be available to help firms manage rising costs.
According to the council, the initiative is expected to benefit approximately 630 businesses, including start-ups, though national chains will not be eligible for the scheme.
A council spokesperson emphasized that the funding would help businesses cope with cost increases while sustaining employment and economic activity in the borough.
Targeted Relief Measures
Of the total £5m package, £3.5m has been allocated to business rate relief, with a cap of £110,000 per business. Furthermore, tenants of the Glassworks and Alhambra shopping centres, as well as traders in Barnsley’s indoor and outdoor markets, will be eligible for rent reductions of up to 25%.
A separate £500,000 business support fund will offer tailored guidance, workshops, and dedicated key account managers with expertise in retail and hospitality.
Additional Support for Unique Challenges
The scheme also includes a £500,000 fund designed to assist businesses facing specific operational difficulties. Companies receiving financial relief will be required to consult with a business support adviser to explore additional resources and strategies for growth.
“Businesses already benefiting from government relief in these sectors will receive extra support, while new businesses relocating to Barnsley will also be eligible for assistance,” the spokesperson added.
The initiative aims to strengthen local businesses and enhance the long-term resilience of Barnsley’s commercial landscape.
Related Topics:
Yale to Host Global Conference on Responsible AI in Business
US Business Sentiment Declines Despite March Activity Boost
DMU Support Helps Entrepreneurs Secure Nominations at Business Awards
