Following the announcement of a third national lockdown at the start of January 2021, Chancellor Rishi Sunak has announced that businesses in the retail, hospitality and leisure sectors may be eligible for a one-off cash grant of up to £9,000.
This follows the news that these businesses will be closed until at least mid-February, in an effort to provide these businesses with some security. The money is provided on a per-property basis to support businesses through the government’s latest restrictions.
The one-off top-ups will be granted to closed businesses as follows:
- £4,000 for businesses with a rateable value of £15,000 or under
- £6,000 for businesses with a rateable value between £15,000 and £51,000
- £9,000 for businesses with a rateable value of over £51,000
This is in addition to the monthly £3,000 grants for closed businesses, 100% business rates relief for these sectors, the furlough scheme and the CBIL Scheme which allows businesses to access 100% government-backed loans.
For more information on business support and CBILS loans visit our coronavirus financial support page