January 2021 Business Update – Covid19

05.01.2021

Trafalgar Square
Following the Prime Minister’s announcement that England will enter into a national lockdown from today, due to the rising number of COVID-19 cases, we are continuing to support our business community with information on resources, measures and support which may be of use. 

The Government has published a 22-page document outlining detailed guidance on the new rules of what you can and can’t do. You can view it here

Government Support for Businesses:
This afternoon, The Chancellor announced that £4.6 billion in new lockdown grants are being made available to support businesses and protect jobs. The one-off top-up grants for retail, hospitality and leisure businesses are worth up to £9,000 and 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
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 apply to their Local Authorities.

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. Find out more here.

GLA Support for Businesses:
The London Business Hub has launched a series of free, dedicated webinars delivered by expert speakers that have been carefully designed to answer your questions and to help guide London’s small businesses through the many challenges presented by COVID-19. They have also brought together a range of resources and information to help you through these difficult times and to help you find the right support. This includes access to funding, including their own grant funds for businesses, as well as support to help you reopen your business safely. Find out more here.