The Government has recently announced £737m for local authorities as part of the £1bn package of support for businesses.
This funding is targeted at the businesses within the hospitality, leisure and accommodation sectors, many of whom have been hardest hit by the pandemic. The Omicron variant has caused a significant fall in footfall and increased cancellations, meaning this funding will be absolutely vital.
Businesses will be able to apply for one-off grants of up to £6,000 per premises depending on rateable value:
- Businesses with a rateable value of £51,000 or above: £6,000
- Businesses with a rateable value between £15,000 and £51,000: £4,000
- Businesses with a rateable value of £15,000 or below: £2,667
Additionally, the Government has also made available a further £100 million to the Additional Restrictions Grant (ARG) fund for local authorities in England. This will ensure that other businesses that have been impacted by Omicron are also able to receive support.
The grant funding forms part of a £1 billion support package which includes an additional £30 million for the Culture Recovery Fund and reintroducing the Statutory Sick Pay Rebate Scheme - reimbursing eligible businesses for the cost of Statutory Sick Pay for COVID-related absences.
Commenting, Caroline said:
“I have seen the impact the last number of months has head on businesses in Gosport, Lee-on-the-Solent, Stubbington and Hill Head and so I am very pleased to see that they are now set to receive further support from the Government.
“I encourage all businesses who are eligible and need this support to contact Gosport Borough Council or Fareham Borough Council to apply for the grant funding which will be administered in the coming weeks.”
Commenting, Secretary of State for Business, Energy and Industrial Strategy, Kwasi Kwarteng, said:
“All through the pandemic we have stood by the side of business to ensure they are supported at every stage.
“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.”