Over 65,000 small businesses in South West receive government coronavirus support

More than 65,000 business properties in the South West have already received grants as part of the government’s Small Business Grants Scheme. In total, around £775million has made its way to small businesses in the region.

• The government has distributed more than £12billion to local authorities in England as part of Small Business Grants Scheme.
• More than £6billion has already been paid out to half a million business properties.
• Around £775million has been distributed to over 65,000 business properties in South West.

In recognition of the extraordinary pressures facing small businesses during the coronavirus outbreak, the government launched the Small Business Grants Scheme, backed by £12.3billion.

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 £5million, 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.

Business Secretary Alok Sharma said:

“I am very grateful to local authorities who have been working flat out to ensure these vital funds get to hard-pressed small business owners.

“Government is doing everything we can to support individual councils and help ensure that these grants reach local firms as soon as possible.

“I urge everyone to keep working at pace to get the money where it is needed quickly.”