The £1.5 billion West Midlands Metro expansion programme is a game-changing investment in public transport which, alongside HS2, is set to significantly boost economic growth in the region over the course of the next decade and beyond.
Transport for West Midlands (a part of the West Midlands Combined Authority) and our delivery partners at the Midland Metro Alliance already work very closely with local highways authorities to minimise disruption as far as possible, but it is inevitable that the unique nature of tramway construction works – extending over several months – will impact on some businesses directly alongside the route.
Whilst there is no statutory obligation on TfWM to provide financial support, we are committed to offering assistance to smaller firms and retailers whose trade may be adversely affected whilst the tramway works are underway. Similar support schemes have been tried and tested in other parts of the country where tramways have been constructed.
HELPING BUSINESS WHILST WE GEAR UP FOR THE FUTURE…
The WMCA has approved a business support package to support local smaller businesses.
The initiative includes an independently administered financial assistance package specifically targeted towards businesses with turnovers of £500,000 or less, whose frontages and accesses are directly impacted by construction works.
Alongside this sits a commitment to work with individual businesses and local business groups to boost ‘business as usual’ messages in defined local areas to minimise any disruption impacts and to support initiatives to increase business activity during the works.
The Financial Assistance Package:
A cornerstone of the scheme is the financial assistance package and a simple process flow chart has been designed to help applicants access the assistance which might be available to them.
The financial aspects of the scheme are being independently administered by RSM UK Tax and Accounting Ltd in order to ensure fairness and objectivity in determining applications as part of a process which is separate from TfWM and its delivery partners.
There are three levels of support for small businesses which have been trading for more than 12 months. They will be paid a proportion of losses up to a cap of £17,047 subject to the submission of properly documented accounts to the scheme administrator.
The levels are:
- Turnover up to £175,000 – financial assistance up to 70% of lost profit
- Turnover of between £175,000 and £350,000 – financial assistance of 60% of lost profit
- Turnover of between £350,000 and £500,000 – financial assistance of 50% of lost profit
To qualify, businesses MUST have a frontage onto the tramway construction works. Those properties have been identified on a series of maps detailing the routes on which work is currently taking place, which can be viewed here.
Further maps will be added to this page as the expansion programme continues over the years ahead.
If, after reading the criteria, you believe you may be eligible for support, please use the contact form at the foot of this page to contact our independent administrator.
There are several forms of rate relief available to businesses affected by the works including National Hardship Relief and other discretionary schemes.
As part of the overall support programme, TfWM will, through its delivery partners, work alongside identified local trader groups to support them with the development and delivery of their campaigns to promote their areas and members during the course of the work.
This type of support will depend on the needs of different localities. Please contact email@example.com for further information about how we may be able to help.