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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 Ann Bibby on abibby@ellacotts.co.uk or 01295 250401.