Chancellor Rishi Sunak has revealed new lockdown grants for any retail, hospitality and leisure firms forced to close. These are one-off grants of up to £9,000 per property, as part of a new £4.6bn package ...
The chancellor has announced new lockdown grants for businesses forced to close!
Designed to help more businesses through the third lockdown, these top-up lockdown grants will benefit more than 600,000 business premises. It will hopefully sustain jobs in these sectors so employees can return when the business is able to reopen again.
"These one-off lockdown grants range from £4,000 to £9,000 depending on the rateable value of the premises!"
There's a further £594m available for local authorities and devolved administrations to offer further support to businesses not eligible for these top-up grants, but are still affected by lockdown restriction.
Already facing extreme difficulties after 2020, many businesses won't survive without these extra grants. I feel the Chancellor's announcement has gone a long way to helping businesses survive.
However, the question around additional support to businesses that supply these sectors hasn't been answered for now. What support will food and drink manufacturers and suppliers receive in the face of these new lockdown closures?
Like you, I'm waiting on further announcements from the Government and will blog about anything new I hear, so watch this space.
Until next time ...
ROGER EDDOWES Business Godparent
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Roger trained at Edward Thomas Peirson & Sons in Market Harborough before working at Hartwell & Co, followed by Chancery, as a partner. He started Essendon Accounts and Tax with Helen Beaumont in 2014 as a general practitioner with a hands-on approach.
Roger loves getting his hands dirty, working with emerging, small-to-medium and family businesses to ensure they receive the best possible accountancy advice. Roger utilises an extensive network of business contacts to leverage the best guidance and practical solutions.
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