Following on from the Prime Ministers announcement on 4 January with the new lockdown restrictions in place, the Chancellor Rishi Sunak has announced further lockdown grants to support businesses and protect jobs.
Grants for retail, hospitality and leisure sector
For businesses in the retail, hospitality and leisure sector there will be a one-off grant of up to £9,000. The grant will be provided on a per property basis to help support businesses in this sector through the latest lockdown restrictions. The one-off payments will be granted to closed businesses as follows:
- £4,000 for businesses with a rateable value of £15,000 & under
- £6,000 for businesses who have a rateable value between £15,000 & £51,000
- £9,000 for businesses with a rateable value over £51,000
The government will also be providing 100% business rates relief for these sectors as well as the extension on the furlough scheme until April and 100% government backed loans which have now been extended until March.
Further discretionary grant funding for Local Authorities
The government will be making £594 million available to local authorities and devolved administrations in order to support business that are not eligible for any of the grants and who may be affected by the current national lockdown. Businesses should apply for this to their local authorities.
You can read the full announcement here on the gov.uk website.
If you need help, we would like to assist you in any way we can. We can help you access the support you need so please make contact with your usual Hillier Hopkins adviser or get in touch on 0330 024 3200 or hi@hhllp.co.uk.