Businesses in the retail, hospitality and leisure sectors are to receive a one off lockdown grant, announced today (5 January) by the Chancellor, Rishi Sunak.
- 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
- A £594million discretionary fund has also been made available to support other impacted businesses
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 one off top up grants 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 over £51,000
The further discretionary funding is being made available for local authorities to support other businesses not eligible for these one off top up grants.
Further detail on the announcement of this new grant scheme can be found here
Plymouth City Council is awaiting the guidance from Government on these grants and will share details and information on how businesses can apply for and receive this support as quickly as possible in the coming days.