Business Bulletin: Issue Number 46

£4.6 billion in new lockdown grants to support businesses and protect jobs

The Chancellor has announced additional support to help businesses impacted by new lockdown restrictions get through until spring.

Support includes one-off top up grants for retail, hospitality and leisure businesses worth up to £9,000 per property to help businesses through to the Spring.

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

The new one-off grants come in addition to billions of existing business support, including grants worth up to £3,000 for closed businesses, and up to £2,100 per month for impacted businesses once they reopen.

The government has also provided 100% business rates relief for retail, hospitality and leisure businesses, £1.1 billion existing discretionary funding for Local Authorities, the furlough scheme now extended to April and 100% government backed loans, extended until March.

A further £594 million is also being made available for Local Authorities and the Devolved Administrations to support other businesses not eligible for the grants, that might be affected by the restrictions.

Businesses should contact their Local Authorities for more information on the above support schemes.

Find coronavirus financial support for your business

Businesses and venues which can remain open

Some businesses and venues are permitted to stay open, following COVID-19 secure guidelines.

Businesses providing essential goods and services can stay open. The full list of these businesses can be found in the guidance on closing certain businesses and venues in England, but includes:

• Essential retail such as food shops, supermarkets, pharmacies, garden centres, building merchants and suppliers of building products and off-licences
• Market stalls selling essential retail may also stay open
• Businesses providing repair services may also stay open, where they primarily offer repair services
• Petrol stations, automatic (but not manual) car washes, vehicle repair and MOT services, bicycle shops, and taxi and vehicle hire businesses
• Banks, building societies, post offices, short-term loan providers and money transfer businesses
• Funeral directors
• Laundrettes and dry cleaners
• Medical and dental services
• Vets and retailers of products and food for the upkeep and welfare of animals
• Animal rescue centres, boarding facilities and animal groomers
• Agricultural supplies shops
• Mobility and disability support shops
• Storage and distribution facilities
• Car parks, public toilets and motorway service areas
• Outdoor playgrounds

Businesses and venues which must close