Rishi Sunak has announced a new package of measures to support businesses in some sectors that have been forced to close as a result of the latest Covid restrictions. Businesses in the retail, hospitality and leisure sectors may be eligible for a grant worth up to £9,000, the Chancellor has announced to support businesses through to spring. This is in addition to the local restrictions support grants announced in 2020 and forms part of a package of £4.6 billion in new lockdown grants that have been designed to support businesses and protect jobs. It is alongside the 100% business rates relief for retail, hospitality and leisure businesses and the furlough scheme.
There is also a £594 million discretionary fund also made available to support other impacted businesses.
The grants are provided on a per-property basis to support businesses through the latest restrictions and is expected to benefit over 600,000 business properties, worth £4 billion in total across all nations of the UK. You can find full details at gov.uk
The further £594 million discretionary fund is being made available for Local Authorities and the Devolved Administrations to support other businesses not eligible for the grants, that might be affected by the restrictions. You need to apply through your local authority but if you need help get in touch.
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