New government grant funding for firms impacted by pandemic

For the businesses in England most impacted by the recent Omicron variant, they will be eligible for a multimillion-pound support package in the coming weeks.

Those within the hospitality, leisure and accommodation sector have been particularly affected by the latest Covid variant due to increased cancellations, and so they 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

As well as this, more than £100 million worth of discretionary funding is also being made available for local authorities to support other businesses.

Business Secretary 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.

Rishi Sunak, Chancellor of the Exchequer, said, “We know the Omicron variant has hit our hospitality and leisure businesses – which is why, as we have throughout the pandemic, we stepped in to help.

“From today, local councils will be able to distribute this £1 billion package of support to the hundreds of thousands of pubs, restaurants and theatres in need – protecting the millions of people they employ.

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.