Pirate FM News 2 minute read

Over £200m dished out to help Cornish businesses

Over £200m dished out to help Cornish businesses

Published by Sarah Yeoman at 6:44am 22nd April 2020. (Updated at 7:33am 22nd April 2020)

Over 200 million pounds has been dished out to small businesses in Cornwall, to help support them through the coronavirus pandemic.

The government has distributed more than £12billion to local authorities in England as part of Small Business Grants Scheme.

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.

More than 65,000 business properties in the South West have already received grants.

In Cornwall, £281m has been allocated to help struggling businesses, with over 23,000 businesses identified as needing help.

Almost 18,000 of those have been helped so far and over £200m has been dished out to them.

“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.”

Business Secretary, Alok Sharma

What other government support packages are available for businesses?

  • 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.

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