Team London Bridge announces support of #RaiseTheBar campaign

Team London Bridge is backing a national campaign to allow more leisure and hospitality businesses to apply for emergency government grant funding.

Figures released by the #RaiseTheBar campaign show 54,638 businesses from pubs to shops, restaurants, cafes, bars, hotels, galleries and gyms are currently unable to access the £25,000 Retail, Hospitality and Leisure Grant (RHLG) grant due to their business rates valuation falling between £51,000 - £150,000.

The £25,000 could mean the difference between survival and bankruptcy for businesses across England and Wales, which have welcomed an outpouring of support from the public during lockdown choosing to support their local communities. 

As part of the RHLG guidance, only those in the retail, hospitality, leisure and assembly sectors with a business rates value of up to £51,000 can access the vital grant, leaving tens of thousands of businesses stranded. The #RaiseTheBar campaign, launched on 21 April 2020, is calling on the Government to raise the £51,000 business rates threshold cap to £150,000, allowing over 50,000 businesses in these sectors the chance to survive.

The campaign was started by the Croydon BID and so far has attracted support from BIDs, town centres, businesses and MPs across the UK.

You can join the campaign to call on Government to expand the rateable value threshold by signing the petition.

Or, if your business falls between the business rates valuation of £51,000 - £150,000 and you would like to get behind the campaign, you can provide a case study. Email donald@teamlondonbridge.co.uk for the form.

Matthew Sims, CEO, Croydon BID and co-founder of #RaiseTheBar campaign said, “Access to the RHLG grant is a ticking time bomb for tens of thousands of businesses on our High Streets and in our local communities. There are just eight weeks until rent is due and the prospect of going under is an uncomfortable truth the Government needs to hear and act upon now. The consequences of failing to increase the business rates threshold are to grim to bear.”

Night Czar for the Greater London Authority, Amy Lamé said, “London’s night time economy makes a huge contribution to life in our capital, but so many of these local businesses are under threat because of the impact of the coronavirus. They have rightly closed their doors to play their part in tackling this health crisis, but too many are not being supported by the government despite losing their entire income. It’s essential the Government raises the bar so that these treasured businesses can get the support they need so they are able to open their doors again when the time comes.”

For more information about the campaign, visit: raisethebarcampaign.com.