Firms can apply for one-off grants of up to £6000
Thousands of businesses across the UK are struggling to keep their heads above the water since the pandemic ‘ and some industries, particularly hospitality, have been affected greatly by restrictions. Now, the government has announced a £700 million grant for businesses most affected by the Covid-19 Omicron variant to help businesses in need.
Firms in the hospitality, leisure and accommodation sectors will be able to apply for one-off grants depending on the value of their business. Businesses eligible for grants are those that offer in-person services with the ‘main service’ taking place in fixed rate-paying premises within the hospitality, leisure and accommodation sectors. This includes businesses whose main role is operating a venue providing food and drink sales and consumption, recreation and entertainment, and holiday accommodation.
Businesses with a rateable value of £51,000 or above can apply for the full £6,000 grant while those with a rateable value between £15,000 and £51,000 can apply for the £4,000 grant. Meanwhile, businesses with a rateable value of £15,000 or below can apply for a £2,667 grant. The government is also providing more than £100 million worth of discretionary funding to local authorities which will be used to support other businesses. Local authorities will allocate the funding to businesses most in need within their constituency.
All through the pandemic we have stood by the side of business to ensure they are supported at every stage, Business Secretary Kwasi Kwarteng said. The spread of the Omicron variant is presenting new challenges, particularly for the hospitality and leisure sectors, so it’s only right that we are stepping up with an urgent £1 billion support package. I urge businesses to come forward, engage with their local council and tap into these cash grants, which will help to cover costs and protect jobs as we double down on our efforts to get boosted and defeat this virus.
The grant funding forms is part of a £1 billion support package for businesses to pull them through difficult times during the pandemic. The support package also includes an additional £30 million for the Culture Recovery Fund and reintroducing the Statutory Sick Pay Rebate Scheme. This scheme will reimburse eligible businesses the cost of Statutory Sick Pay for Covid-related absences among their employees.
We know the Omicron variant has hit our hospitality and leisure businesses ‘ which is why, as we have throughout the pandemic, we stepped in to help, Rishi Sunak, Chancellor of the Exchequer said. From today, local councils will be able to distribute this £1 billion package of support to the hundreds of thousands of pubs, restaurants and theatres in need ‘ protecting the millions of people they employ.
Businesses who wish to apply for the grant can visit https://www.gov.uk/find-local-council