Latest Government Business Support News
As it looks we are seemingly heading towards another lockdown, the Chancellor announced that a further £1billion business support will be available. Just when we thought we were heading towards normality, we’re all having to be ultra cautious again. Well, almost all of us. Let’s have a look at the latest Government Business Support news then shall we.
But just before we do, may I ask that you share this post if you can. The more that see the news the better.
Latest Government Business Support News
Take note of the following folks:
The support available includes:
- One-off grants up to £6,000 per premises for retail and hospitality businesses.
- £100 million in Additional Restrictions Grants funding to support other businesses.
- Statutory Sick Pay Rebate for Covid-related absences for SMEs.
- £30 million further funding through the Culture Recovery Fund.
Let’s have a closer look in more detail.
Retail and Hospitality Grants
The government announced that it is providing one-off grants of up to £6,000 per premises for businesses in the hospitality and leisure sectors.
It is estimated that around 200,000 businesses will be eligible for business grants, These will be administered by local authorities and will be available in the coming weeks.
Additional Restrictions Grants
This grant is to help to support other businesses impacted by Omicron. For instance, like those businesses who supply the hospitality and leisure sectors. In addition, the government is also giving a more than £100 million boost to the Additional Restrictions Grant (ARG) fund for local authorities in England.
Currently, Cheshire West and Chester Council are still awaiting full guidance from central Government on how the funding is to be administered. So, watch this space.
Statutory Sick Pay Rebate
The government is also reintroducing the Statutory Sick Pay Rebate Scheme (SSPRS).
This will help small and medium-sized employers. More specifically, those with fewer than 250 employees. The assistance will come by reimbursing them for the cost of Statutory Sick Pay for Covid-related absences, for up to 2 weeks per employee.
Businesses will be eligible for this scheme as from 21st December and will be able to make claims retrospectively from mid-January.
And finally.
Further Funding for Culture Recovery Fund
Also, the Government have made £30 million further funding available through the Culture Recovery Fund. This is to support organisations like theatres, orchestras and museums in the winter months through to March.
This fund aims to provide emergency funding awards to culturally significant organisations that were financially sustainable before Covid-19, but are now at imminent risk of failure and can demonstrate that they have exhausted all other options for increasing their resilience.
With regard to the last sentence above, I’m not sure how that would be tested or checked? “Exhausted all other options for increasing their resilience.” What lengths do businesses need to go to exactly to fulfill that criteria I wonder?
Latest Government Business Support – Updates When Available
The above is the latest Government Business Support news as we know it. If and when there are any updates, I will post the information accordingly.
Best of luck to all those businesses out there, in not only obtaining the grants mentioned if you qualify, but also best of luck in the ever demanding battle and struggle we currently find ourselves in. What a nightmare.
Please spread the word if you can folks and stay safe.
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