As of January 5th 2021, the new measures brought forth by the UK government regarding the pandemic lockdown, has forced more businesses to shut down.
To aid in the lockdown, the govenrment has also announced £4.6 billion in new lockdown grants to help support small businesses and protect jobs.
One of the most popular and trending options to consider in terms of the government grants, is a £9,000 small business grant, a one-off grant, which will be provided to the retail, hospitality and leisure sectors.
The newly announced one time grants, are in addition to the already existing billions of small business support, which includes small business grants worth of up to £3,000 for closed businesses and another £2,100 per month for those businesses that have been impacted, until they re-open.
In addition to that, the government has also proceeded 100% business rates relief for the retail, hospitality and leisure businesses.
If you are unsure if any of the available small business grants are available for your busienss, reach out to a funding expert at UK Startups for assistance and guidance.
Alternatively, use the Funding Search Tool to locate any and all government grants, government loans and funding support from the UK government.
Further information on the £4.6 billion in grant support during lockdown
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
- business support is a devolved policy and therefore the responsibility of the devolved administrations, which will receive additional funding as a result of these announcements in the usual manner:
- the Scottish Government will receive £375 million
- the Welsh Government will receive £227 million
- the Northern Ireland Executive will receive £127 million
- this will contribute to the funding which has already been guaranteed by the UK Government, to continue to provide the devolved administrations the certainty they need to plan for their COVID-19 response in the months ahead
- small businesses in the devolved administrations should also be able to benefit from other UK-wide measures in the government’s unprecedented package of support for business, including the various business lending schemes (where the repayment terms were made easier as part of the Winter Economy Plan), and the extension of the Self Employment Income Support Scheme
Use the Funding Search Tool to see which funding options your small busienss may be eligible for.