Businesses in the retail, hospitality and leisure sectors will receive a one-off grant worth up to £9,000, the Chancellor has announced, as England enters its third coronavirus lock down.
Chancellor Rishi Sunak has announced new emergency support for non-essential businesses as England enters its third coronavirus lock down. A one-off grant of up to £9,000 will be available to retail, hospitality and leisure businesses, including local businesses such as florists and salons which have been ordered to close until at least February 22.
The Treasury said the new support grants will offer companies up to £9,000 through to March as part of a £4.6billion package “to support businesses as protect jobs”.
This will start at £4,000 and increase in line with the firm’s rateable value.
In total, an estimated 600,000 properties are expected to benefit, however, many groups warned they will be excluded from the new support, despite mandated closures.
The Chancellor said a further £594million will be made available to councils and devolved nations to support businesses not covered by the new grants.
“Throughout the pandemic we’ve taken swift action to protect lives and livelihoods and today we’re announcing a further cash injection to support businesses and jobs until the Spring.”
“This will help businesses to get through the months ahead – and crucially it will help sustain jobs, so workers can be ready to return when they are able to reopen.”
The grants will be provided on a per-property basis to support businesses through the latest restrictions. It will be available in addition to the furlough scheme which has been extended until April this year.
To apply for support, businesses should contact the local authority in which their business is based.
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