Support for Local Businesses13th April 2021 / Posted by Rachael Aldridge
Further support for businesses has recently been announced, as restrictions lift in a new phase of the pandemic.
The new Restart Grant is a one-off cash grant, available now for businesses with premises registered for business rates. Designed for businesses trying to reopen and get back on their feet after the latest lockdown, the grant is in two strands:
- Strand One, grants of up to £6,000 will be paid to non-essential retail premises to help them reopen safely.
- Strand Two, grants of up to £18,000 will be allocated to hospitality, accommodation, leisure, personal care and gym business premises, which may open later under the roadmap and will be more impacted by restrictions when open.
Other financial support available for businesses includes the Recovery Loan Scheme, which supports access to finance for UK businesses as they grow and recover from the disruption of the pandemic. Up to £10 million is available per business. The actual amount offered and the terms are at the discretion of participating lenders. The scheme will run until 31th December 2021.
The Help to Grow programme is a government initiative designed to help small and medium businesses to learn new skills, reach new customers and boost profits. To be eligible, businesses need to have been operating for more than one year and have between five to 249 employees.