The Government has distributed more than £12 billion to local authorities for the Small Business Grants Scheme. More than £6 billion has already been paid out to half a million business properties. High Peak MP Robert Largan has welcomed this support for High Peak businesses.
In High Peak, 2,085 business properties have received £29,126,000 in Government support, and 1,730 business properties have already received grants as part of the Government’s Small Business Grants Scheme. In total, more than £17,675,000 has made its way to small businesses in the High Peak.
In recognition of the extraordinary pressures facing small businesses during the Coronavirus outbreak, the Government launched the Small Business Grants Scheme, backed by £12.3 billion. The funding is provided to local authorities, who are then able to offer grants of up to £10,000 to small businesses, and up to £25,000 for eligible leisure, retail and hospitality businesses.
The Government is providing a huge and unprecedented package of support to help small businesses during the Coronavirus outbreak. This includes:
• Helping to pay people’s wages through the Job Retention Scheme.
• Introducing the Coronavirus Business Interruption Loan Scheme to provide loans of up to £5 million, interest free for 12 months, to small businesses.
• Taking all retail, leisure and hospitality businesses out of business rates altogether for the next year.
• Helping small and medium-sized businesses with the cost of paying Statutory Sick Pay for employees.
Robert Largan MP commented:
“This is a hugely challenging time for businesses, especially for the smaller firms that are at the heart of our local community in the High Peak.
“It’s reassuring to know that the support announced by the Government has already reached 1,730 High Peak businesses, and is helping to protect people’s livelihoods.
“I am determined to ensure that people get the support they need to do the right thing, which is to stay at home, protect our NHS and save lives, without having to worry about losing their jobs or not being able to pay their bills.”