Sep 10, 2020

The Treasury has confirmed that businesses in England forced to close due to local lockdowns are now eligible for grants worth up to £1,500. To qualify for the grant, a business must have been required to close due to local COVID-19 restrictions.  Larger businesses will be eligible for £1,500 for every three weeks they are required to close, while smaller businesses can claim £1,000.

Cheshire accountants, Afford Bond said: “This package offers additional breathing space for businesses that have had to temporarily close to control the virus.  We all want to do the right thing to support the UK economy, but alot of businesses are now struggling to comply financially with new Covid restrictions.” 

The government continues to back the UK’s innovators and job creators, who are playing a critical role as we come back better and stronger from the pandemic. 

However, the British Chambers of Commerce (BCC) remains concerned and has said the grants “will not be enough to offset the resulting cash crunch. Local lockdowns are a major barrier to business planning and maintaining day-to-day operations, and more than one in three firms have three months or less worth of cash in reserve.”

There has been a call this week for Ministers to increase the amount on offer to ensure businesses and jobs are protected, and extend coverage to more firms that are hard-hit but not forced to close.

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