- The Government has distributed more than £12 billion to local authorities for the small business grants scheme.
- More than £6 billion has already been paid out to half a million business properties.
- North Devon Council allocated £50,944,000 to support up to 3,782 business properties.
1,668 business properties in North Devon have already received grants, as of 21 April, as part of the Government’s Small Business Grants Scheme. In total, more than £19,420,000 has made its way to small businesses in the area.
In recognition of the extraordinary pressures facing small businesses during the coronavirus outbreak, the Government launched the Small Business Grants Scheme, backed by £12.3 billion. 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, £6.1 billion has already been paid out to 491,725 business properties across England, including 1,668 in North Devon.
In total, North Devon Council has been provided with £50,944,000, which could help as many as 3,782 businesses in the local area.
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 £5 million, 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.
Commenting, Selaine Saxby said:
“I am delighted the Government has distributed £12bn in grants to local councils to support our small businesses. The grants are being processed rapidly now by North Devon Council and businesses are delighted to be receiving them. The Council team have been working seven days a week to distribute the funds. I am part of an MP Business Clinic with Geoffrey Cox for North Devon and Torridge businesses hosted by the Barnstaple Chamber and am happy to take questions from any businesses who do still have queries.”
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.”
Image: Selaine meeting with the Federation of Small Business in Barnstaple in late February 2020
