1,047 businesses in Bexley have already received grants as part of the Government’s Small Business Grants Scheme. In total, more than £12,855,000 has been paid to small businesses in Bexley.
In total, Bexley has been provided with £36,438,000 which could help as many as 2,715 businesses in the local area
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. Since the scheme’s launch in March, £6.1billion has already been paid out to 491,725 business properties across England.
The Government is providing a huge and unprecedented package of support to help small businesses during the coronavirus outbreak, including:
·Helping to pay people’s wages through the Coronavirus Job Retention Scheme, including for more than a million people who are employed by the 140,000 businesses which applied for the scheme in the first day alone.
·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 off because of Covid-19
Commenting, James said:
“This is a hugely challenging time for businesses, especially for the smaller firms that are at the heart of our local community in Old Bexley and Sidcup.”
“It’s hugely reassuring to know that the support announced by the Government has already reached 1,047 businesses in Bexley, and is helping to protect businesses and people’s livelihoods”
“The Government is determined to ensure that people get the support they need to do the right thing–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.”