Further detail has now been released on the £25,000 grant for businesses in the Retail, Hospitality and Tourism sector after much anticipation.
The Scheme will open on Monday 20th April and will involve a one-off grant of £25,000 to those businesses in the above sectors who have a rateable property between £15,0001 and £51,000.
The Scheme will be open until 20th May.
The £25,000 grant scheme is in addition to the £10,000 grants for small businesses who are in receipt of Small Business Rate Relief. Many of these payments have already been received and are a lifeline to numerous businesses at this time.
News on the Government’s Business Interruption Loan Scheme, however, has been mixed so far with reports of difficulty in businesses qualifying for the loan or of banks refusing applications for it.
O’Reilly Stewart understand this is an extremely testing time for all businesses. Our experts are on hand to discuss your business requirements during this time and to assist wherever we can with any of the supports available at present.