Posted: Tue, 05 Jan 2021 12:15

Businesses in the retail, hospitality and leisure sectors are to receive a one-off grant worth up to £9,000

A further £594 million is also 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. Businesses should apply to their Local Authorities.

This follows the Prime Minister's announcement last night that these business will be closed until at least February half-term in order to help control the virus, and, together with the wide range of existing support, provides them with certainty through the Spring period.

The cash is 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.

The new one-off grants come in addition to billions of 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 government has also provided 100% business rates relief for retail, hospitality and leisure businesses, £1.1 billion existing discretionary funding for Local Authorities, the furlough scheme now extended to April and 100% government backed loans, extended until March.

Business Grants

  • 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 impacted businesses

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


To read the full update click here

Tags: Business, Clubs, Featured-bigger, Funding, SOS

Partners

  • Equality Standard
    Active Partnerships
    Leicestershire County Council
    NWL LSA
    Blaby LSA
  • Active Rutland
    Active Oadby and Wigston
    Active Hinckley and Bosworth
    Charnwood LSA
    Melton LSA
  • Harborough LSA
    Active Leicester
    Sport England
    Safeguarding

Partners

  • Charnwood LSA
    Active Hinckley and Bosworth
  • NWL LSA
    Safeguarding