The government has announced that businesses in the retail, hospitality and leisure sectors will receive a grant of £9,000 to support them through the latest national lockdown.
Speaking the day after the 3rd national lockdown was announced, the Chancellor, Rishi Sunak, promised a £4.6 billion package of grants to help support businesses and protect jobs, which included:
- One-off top-up grants for retail, hospitality, and leisure businesses worth up to £9,000 per property to help businesses through to the Spring
- £594 million discretionary fund also made available to support other businesses impacted by lockdown restrictions. Businesses should apply to their Local Authorities.
- This comes in addition to £1.1 billion further discretionary grant funding for Local Authorities, Local Restriction Support Grants worth up to £3,000 a month, and an extension of the furlough scheme
The top up grant is provided on a per-property basis, and is expected to benefit over 600,000 business properties.
The new one-off grants come in addition to the government’s existing business support, including grants worth up to £3,000 for closed businesses, and up to £2,100 per month for impacted businesses once they reopen.
The one-off top-ups will be granted to closed businesses as follows:
- £4,000 for businesses with a rateable value of £15,000 or under
- £6,000 for businesses with a rateable value between £15,000 and £51,000
- £9,000 for businesses with a rateable value of over £51,000
- any business which is legally required to close, and which cannot operate effectively remotely, is eligible for a grant
For more information about the government’s support schemes for businesses, contact us by email or on 01295 250401.