Businesses that are forced to close as a result of COVID-19 restrictions may be entitled to additional government support. Assistance is also available for businesses that can remain open but have been adversely affected by the pandemic.
On Tuesday, 5 January, the chancellor Rishi Sunak announced a new £4.6bn package of grants for the retail, hospitality and leisure sectors. Businesses in these sectors will be entitled to a one-off grant worth up to £9,000. The funding is provided on a per-property basis to support businesses through the latest restrictions, with over 600,000 business properties expected to benefit across the UK.
A further £594m will also be made available for local authorities to support firms that do not qualify for these grants, at their discretion. For more information on these announcements, click here.
There are now more than 20 different government support packages available for businesses, covering different sectors and situations and providing a broad range of support. There are also several steps companies can take to help their workers who either fall ill with coronavirus or who are unable to work, including the ability to temporarily furlough workers who need to provide childcare.
More information is available in our COVID-19 Knowledgebase, and you can view the full list of the coronavirus grants on the government's website here .
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As we have done throughout the pandemic, our team stands ready to help you identify and access the support you may be entitled to protect your company, your employees and your livelihood while also making your business as efficient, profitable and sustainable as possible.
If you would like professional advice, guidance or support please contact our team.
