Lockdown has been a challenging time for most UK businesses, but it’s been especially tough for the retail, hospitality and leisure sectors. Having been forced to close once again, due to the ongoing Covid restrictions, revenues are down and cashflow is looking tight.
To help you overcome this cashflow challenge, the UK Government has introduced new lockdown grants specifically for businesses in the retail, hospitality and leisure sectors.
It’s been a tough time, both financially and operationally, for the UK’s small businesses. So, an injection of additional funding is something that would greatly improve your cashflow, working capital and ability to ride out the Covid crisis.
Details of the Covid government grant schemes:
Let’s take a look at how these grant schemes work:
- What’s the scheme? The government grant is available for companies trading in the retail, hospitality and leisure sectors and allows you to access free funding to get you through the ongoing Covid pandemic.
- What can I claim? Eligible businesses in the affected sectors will be able to claim a one-off grant worth up to £9,000. Local Restriction Support Grants will also be available through your local authority, with qualifying businesses able to claim grants of up to £3,000 a month.
- Who is eligible? You can apply for a loan if your business:
- is based in England and trades in the relevant affected sectors
- occupies property on which it pays business rates (and is the ratepayer)
- has been required to close because of the national restrictions from 5 January 2021 onwards, or between 5 November and 2 December 2020
- has been unable to provide its usual in-person customer service from its premises.
Talk to us about applying for a government grant
If you run a business in the retail, hospitality and leisure sectors, or you’re a business that’s been forced to close due to Covid restrictions, come and have a chat with us.
We can review your situation, see if you meet the eligibility criteria and can provide all the information needed to make a grant claim.
Get in touch to find out more about government grants