Further grants announced for businesses in retail
As the country enters its third lockdown the government has announced that businesses in the retail, hospitality and leisure sectors are to receive a one-off top-up grant worth up to £9000.
These will be available 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
The new grants are in addition to existing support of -
-£3,000 per month for closed businesses and up to £2,100 per month for impacted businesses once they reopen.
-100% business rate relief.
-Extended furlough scheme.
Chancellor Rishi Sunak said: “this will help businesses to get through the months ahead and, crucially, help to sustain jobs”
A further £594 million is also being made available for Local Authorities to support other businesses that are affected but are not eligible for the grants.