New Lockdown Grants Announced
Businesses in the retail, hospitality and leisure sectors are to receive a one-off grant worth up to £9,000, the Chancellor announced on 5th January.
The Chancellor announced 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.
In addition there is also a £594 million discretionary fund being made available to support other impacted businesses.
The grants will be provided on a per-property basis to support businesses through the latest restrictions. It’s expected to benefit over 600,000 business properties, worth £4 billion in total across all nations of the UK.
A further £594 million is also being made available for Local Authorities and the Devolved Administrations to support other businesses not eligible for the grants, that might be affected by the restrictions.
Is your business eligible?
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
- Any business which is legally required to close, and which cannot operate effectively remotely, is eligible for a grant
You can also check your eligibility on the government website using their online checker.
If you’re a business in the retail, hospitality or leisure sectors – don’t hesitate to get in contact with us today. We can guide you through which grants you are eligible for, and how to get the funding you need.
We will also keep you up to date with further details as and when the Governments release information.