Local councils support businesses with £7.8 billion in grants

Local councils in England have provided a collective total of £7.8 billion in Covid-19 related business support grants, latest government figures have revealed.

Since August last year, the government has provided councils with £7.8 billion for businesses through a range of schemes including both discretionary programs and to aid businesses forced to close due to local and national restrictions.

Small Business Minister Paul Scully said:

Throughout this crisis, we have provided generous support to as many businesses as we can to help see them through these tough times.

“I know from speaking to businesses just how much they have benefited from government grants, which have enabled them to cover their fixed costs, adapt and plan to build back better from the pandemic.

“We are working closely with council leaders across England to ensure that this much-needed support gets to hard-pressed businesses as soon as possible.”

In addition to business rates relief, the Local Restrictions Support Grants and Christmas Support Payments, Stockport Council has also delivered a number of Discretionary Grant Schemes. These programmes have been targeted to businesses in the borough that have not been eligible for other support. Schemes currently live include:

Local Restrictions Support Grant (for open businesses)

Hospitality and leisure businesses can apply for the Local Restrictions Support Grant (for open businesses) if they have been negatively impacted by the local restrictions, for example, if there’s a risk of job losses.

More information available here.

Additional Restrictions Grant

You can apply for the Additional Restrictions Grant if your business:

• does not directly pay Business Rates and was forced to close due to the national restrictions from 5 November 2020 to 2 December 2020; or
• supplies the hospitality and leisure sectors and has been severely impacted by the national restrictions

More information available here.

Micro-business support grant

The grant is to support businesses that do not have monthly commercial property costs but have fixed asset costs that are required to operate the business, e.g. storage, vehicles, equipment rental.

The micro-business support grant is a one-off payment of between £200 and £1,000. The grant is available for businesses that are not eligible for the Additional Restrictions Grant or Local Restrictions Support Grant for open and closed businesses.

More information available here.

Support scheme for large strategic employers

The support scheme for large employers will provide financial support to help businesses survive and protect jobs by helping with operational costs and overheads. Eligible businesses will have 50+ employees (with exceptions for businesses that can demonstrate their significance to the local economy) and can demonstrate the strategic impact the business has on the borough.

Applications close on 28 February 2021.

More information available here.

At the upcoming Budget, government is expected to outline further support for businesses following the publication of the Prime Minister’s ‘roadmap’ out of lockdown restrictions.