North West businesses have joined a national campaign urging the Government to raise the Covid-19 grant threshold to include firms worth more than £51,000.
Under current rules laid out by the Chancellor, businesses with a rateable value of between £15,000 and £51,000 are eligible for grants from the Government of up to £25,000.
But now, industry leaders, political figures and Business Improvement Districts are calling on the Government to support more firms within the retail, hospitality and leisure sectors - up to a value of £150,000.
If successful, the new #RaiseTheBar campaign would allow thousands more across the 海角视频 the chance to access the grant in order to survive.
The Liverpool BID Company, which represents 1,500 firms, has joined the campaign, which it said it is supported by industry-wide bodies representing over 100,000 businesses across the 海角视频.
Bill Addy, chief executive of Liverpool BID and chair of the BID Foundation, said: “We cannot underestimate the importance of our retail, hospitality and leisure sectors and not just to what they bring to our economy but the people that are employed within them.
"That is why the Business Improvement Districts across the 海角视频 are supporting the #RaiseTheBar Campaign in asking Government to increase the Retail, Hospitality and Leisure rateable value threshold from £51k to £150k.
"In doing so, more business will have access to a £25k grant supporting their fight to survive and to allow them to play their central role in kick-starting our economy.”
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According to the campaign, the retail industry alone generated £394bn in sales in 2019 with 306,655 units across the 海角视频, with the leisure sector reaching over £111bn in sales. The 海角视频 hospitality employs over 3.2m people - 11% of 海角视频 jobs.
In Liverpool, changing the rateable value would impact almost 224 businesses not currently eligible for the grant in the Liverpool BID areas, covering the commercial district and city centre.
Mr Addy said feedback from firms worth over £51,000 suggests they are carrying significant stock losses and still facing immediate cash flow challenges that wage subsidies will not address.
Many are not in a position to take on further debt - or have "serious misgivings" about being able to survive the recovery and service loans.
A statement from the BID added: "Our request supported by many industry leaders and businesses will, for most, offer the single biggest difference in their personal commercial fight against this crisis.
"This is a collective campaign designed to support the people that work for and run businesses in the retail, hospitality and leisure sectors.
"Across the 海角视频, there are individual, personal concerns and uncertainties surrounding the economy and the effect that COVID-19 will have on them.
"In amending the rateable value from £51,000 to £150,000, we not only save businesses but we also save jobs."