Millions of pounds worth of government funding is available to help Medway businesses struggling as a result of the new national restrictions.
Medway Council is encouraging residents and businesses financially impacted by the new lockdown to access government support.
Earlier this year, Medway Council helped thousands of Medway businesses and self-employed people access government grant schemes.
The council has distributed £36.360million to 2,955 Medway businesses in Small Business Grants and in Retail, Hospitality and Leisure Grants, and has also paid out £1.848million to 321 businesses in Discretionary Grants.
More than 1,300 retail businesses also benefitted from £33.786million Expanded Retail Relief.
The government has now announced that Medway has been allocated £3.526million Local Restrictions Support Grant funding for businesses which have been affected by the new national restrictions. The grant will be payable to businesses that were open as usual, providing in-person services to customers, but legally had to close due to the national lockdown on 5 November.
- Medway businesses with a rateable value of £15,000 or under will qualify for a grant of £1,334 per 28-day qualifying restriction period.
- Businesses with a rateable value of more than £15,000 and less than £51,000 will qualify for a grant of £2,000 per 28-day qualifying restriction period.
- Businesses with a rateable value of £51,000 or over will qualify for a grant of £3,000 per 28-day qualifying restriction period.
Medway Council will be writing to almost 2,000 businesses, which may be eligible for the new grants, to encourage them to apply.
Businesses will be able to apply on the council’s website in the coming weeks and the deadline for applications is Sunday, 31 January 2021.
The government has also announced a discretionary grant scheme for businesses which are able to remain open during the new lockdown but their business has been severely impacted by coronavirus restrictions. The £5.571million Additional Restrictions Grantfunding is to further support businesses between December 2020 and March 2022. The council is currently considering the best ways to use the funding to support Medway’s businesses and economy throughout the next 16 months, in line with government guidance.
Medway Council has also been given more than £900,000 Winter Support Grant funding to continue to support vulnerable residents, including children and families. The council is waiting for the details of the grant scheme to be published, before deciding the best way to support residents.
Continuing to support local businesses
Leader of Medway Council, Cllr Alan Jarrett, said: “We are committed to continuing to support Medway’s most vulnerable residents as well as our local businesses. It is vital that anyone who is concerned about the impact of the pandemic reaches out and accesses the support available, whether that is help with getting food items or accessing financial support through government grants. I’m pleased we have already provided £71.994million financial support to thousands of businesses during these challenging times and would encourage residents to continue supporting our local businesses to protect our economy. Medway is resilient and it’s incredibly important that we all continue to follow the latest government guidelines and play our part to help stop the spread of coronavirus.”