The Government has announced a £5 billion grant scheme for England to help businesses reopen after lockdown. Over 700,000 businesses will be eligible for the grant, including shops, salons, gyms and restaurants.
The grants will be available on a per premises basis.
Non-essential retail will be entitled to grants under the scheme, which will be limited to £6,000, to reflect the fact that the sector will be able to open earlier under the Government’s roadmap out of lockdown.
With hospitality due to open later, individual businesses could receive between £8,000 and £18,000,with the grants being allocated based on the value of their property.
The Restart Grant Scheme will be administered directly by local councils in April and will replace the monthly Local Restrictions Support Grants which will close at the end of March 2021.
Local authorities in England will also be given an additional £425 million of discretionary business grant funding for businesses which do not meet the restart grant criteria.
Further guidance regarding grant applications and eligibility criteria is expected to be released within the next few weeks.
For advice on accessing restart grants, any other business support or funding, please contact your usual PM+M representative or get in touch at email@example.com.