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Gravesham council has assured businesses it will support them through the coronavirus outbreak by pledging to pay all supplier invoices within a maximum of 30 days.
Council leader Councillor John Burden said: “We are absolutely committed to making prompt payments to our suppliers, many of whom are small businesses helping us to maintain essential services within our community.
“During this emergency period to address Covid-19, we have targeted 100% of normal supplier payments to be made in less than 30 days.
“As soon as an invoice has been cleared, payment will be made immediately, regardless of maximum payment terms. Cashflow is the lifeblood of businesses and it is vital that we play our part in helping our suppliers as much as we can.”
Director of corporate services Sarah Parfitt added: “There is rightly a focus on local councils distributing central government’s cash grants to businesses in a timely manner. However, it is also extremely important that we do not overlook everyday efficiencies relating to prompt supplier payments, which have such an impact on cashflow and ultimately the viability of small businesses.
“This includes looking after our ‘at risk’ suppliers – for example, those who may face significant financial implications because of the curtailment of some of our services during the pandemic.
“We are working hard to identify suppliers who fall into that category. We will be contacting them to confirm we will continue to make payments to them until at least the end of June to ensure business continuity and help them support their employees.
“Our local businesses are the lifeblood of our community and we are determined to do everything we can to help them weather the current storm.”
The council is also starting to distribute Government Small Business Grant Funding to companies, with the first grants expected to reach eligible businesses from Tuesday April 7.
The Small Business Grant Fund will provide a payment of £10,000 to eligible businesses in receipt of Small Business Rates Relief and Rural Rates Relief.
The Retail, Hospitality and Leisure Grant Fund will make a payment of up to £25,000 to eligible businesses in receipt of the Expanded Retail Discount in the retail, hospitality and leisure sectors.
Cllr John Burden, Leader of Gravesham Borough Council, said: “The £16 million funding for businesses in our Borough arrived with us this morning. We had already put in place the necessary mechanisms to distribute it to eligible companies, and officers are working to make those payments.
“We know our small businesses are facing incredibly challenging circumstances and we are doing everything in our power to distribute this vital grant funding as quickly as possible.
“More than 250 local businesses have already confirmed their eligibility via our website, but we know there are more who have yet to do so.
“We have written to every business we have records for in the Borough and who we believe to be eligible, so please check to see whether you have a letter from us.
“I would urge those businesses yet to confirm their details to do so by visiting www.gravesham.gov.uk/businessgrant as soon as possible and help us to help you.”
