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£2.2bn to see businesses through national restrictions
Small businesses in England will receive a significant £2.2 billion from the government to help them through the current period of national restrictions.
Funding is being transferred to councils in England and businesses can expect to receive money covering the four-week period of national restrictions in the coming days, with the Ministry of Housing, Communities & Local Government announcing that they should check their council’s website for details.
Businesses will benefit from two grant schemes: one for businesses that have had to close, and another scheme for further business support as a result of the coronavirus pandemic, helping support people’s jobs and livelihoods and protect communities.
Local authorities will receive a sum of money equivalent to £20 per head of their local population to distribute to businesses which have been severely impacted by restrictions. For example, a council covering an area with a population of 100,000 would receive £2 million for this purpose.
Business Secretary Alok Sharma said: “We know that this is a really tough time for businesses across the country, which is why we are continuing to deliver a wide-ranging package of urgent support. This much-needed cash will help to sustain businesses, protect jobs and keep communities ticking as we continue to tackle the virus in the coming weeks.”
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