If you are accepted onto this pilot project, you will still be expected to pay full rent after 5 years, once the grant period has ended.
The team at LBP will work with you after joining the scheme to improve your financial resilience through carrying out a business diagnostics review, making recommendations for cost reductions, adaptations and scope for growth. The aim is to look at financial burdens and how they can be reduced and consider options for increased revenue to allow your business to remain in your premises and fulfil future rent commitments.
This is offered as part of the Rent Reduction Pilot Scheme and therefore all businesses who apply and are accepted onto the scheme must show commitment to participate in the business advice, guidance, action planning and capacity support offer. Any business who does not participate may risk their continued access to the Rent Reduction Scheme.