SMEs in Shared Office Space urged to take action today over missed £1bn Cash Grant Loophole

Cash flow crisis hits those who rent a shared office space

Firms and sole traders in Shared Office Space are missing out on Government cash

The Campaign to pressure the Treasury into considering helping those small businesses in shared office space who missed out on more than £1bn of cash grants due to a loophole, is gaining considerable momentum. Hilary Benn MP and Heather Wheeler MP have both shown support for small businesses who have missed out on lifesaver grant over the weekend.

“In a nutshell, the campaign to get £10,000 in cash grants for each small business in shared office space is going very well. We have over 17,000 signatures on the petition and MP’s are listening. We have seen several emails from local MP’s showing they are requesting the Treasury to look into this anomaly – but now is the time for direct action – I need every business who has missed out to take action today – we need a big push this week”, explains Jonathan Ratcliffe from office agents

Some Local Authorities are believed to be now accepting applications for the grant from those initially left out, adding them to a “pending” list ahead of a potential change of heart from the Treasury.

Ratcliffe is asking all tenants of shared offices who have missed out on the grant to do two things:

  1. Email your local MP using the template available here
  2. Share and Sign the petition here

Ian Carrotte of ICSM Credit said: “Small businesses and sole-traders won't get the grant promised as they pay their business rates centrally to their Local Authority. It's a loophole and is unfair on start-ups or those who trade from a desk or an office in a business centre where facilities are shared." 

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