Small firms that have been hit by the current lockdown could be eligible for a new form of financial support from next week.
Small Business Grants were introduced during the first lockdown in 2020 and Policy & Resources has decided to revive them, three weeks into the current lockdown.
Single payments of £1,000 or £2,000 will be available for businesses with less than 20 members of staff that have been generating less than 70% of their normal turnover through lockdown.
Pictured: P&R ultimately backtracked on original intentions to publish the names of businesses that applied for payroll support.
The grant is available to self-employed traders if their business is run full-time and is their main source of income.
“We know that as the lockdown continues the pressure of businesses grows, particularly for small businesses, so we’re reintroducing measures which helped them through the first lockdown," said Deputy Mark Helyar.
"We remain hopeful that this will be a shorter lockdown and businesses will be able to resume trading, in stages, sooner rather than later.
"But clearly there is uncertainty and people are worried, and we want businesses to know we’re behind them and we’ll do what we can to help viable businesses get through this period so they are in a position to bounce back when the lockdown ends.”
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