Grants Worth up to £9,000 Now Available for Small Businesses
The Chancellor, Rishi Sunak, has announced that £4.6bn in new grants will be available to support small businesses across the retail, hospitality and leisure sectors. Eligible businesses will be able to receive one-off grants worth up to £9,000.
The announcement follows the introduction of full-scale lockdowns in all four parts of the United Kingdom, implemented yesterday in an effort to quell rapidly-rising coronavirus case numbers. All hospitality, leisure and non-essential retail businesses will be closed in England, Scotland, Wales and Northern Ireland until at least the middle of February.
According to the Treasury, the cash will be 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 Chancellor said: “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.”
Thousands of business across the UK now face at least seven weeks of severely limited trade, with many firms forced to shut up shop altogether. Retailers will be able to offer click & collect services and hospitality venues can continue to operate as takeaways.
For guidance on how to operate safely and effectively during the lockdown, see our range of guides:
- How to Become a Takeaway in 10 Simple Steps
- How to Set Up a Click & Collect Service
- Free Printable Social Distancing Signs
- How to Create an Online Store
- How to Increase Food Delivery Sales for Your Restaurant
For additional options on how to finance your business through interruptions, click here to read about Epos Now Capital.