£700m funding to benefit Omicron-hit UK businesses

UK: Businesses in England most impacted by Covid-19 and the Omicron variant will benefit from £700 million in government grants, delivered to councils across the country today.

Businesses in the hospitality, leisure and accommodation sectors can apply for one-off grants (maximum £6,000) depending on the premise’s rateable value:

• £51,000 and above rateable value: £6,000

• Between £15,000 and £51,000 rateable value: £4,000

• Below £15,000 rateable value: £2,667

The news was announced in December when Chancellor Rishi Sunak revealed a £1 billion fund for hospitality and leisure firms following reports that up to 60 per cent of trade had been lost over the festive season.

Those businesses that are eligible for the grants include venues which “offer in-person services, where the main service and activity takes place in a fixed-rate paying premises, in the hospitality, leisure and accommodation sectors,” as stated on the government website.

Applications must be submitted to local councils for the funding, which will be allocated to those businesses most in need.

Sunak 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.”

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,” he added.

Local authorities can be found here.

This story was originally posted on 7 January 2022 on ServicedApartmentNews.com

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