Originally written by Timothy Adler on Small Business
This is to support businesses and protect jobs following the announcement of a third national lockdown by the prime minister last night. It is expected this third national lockdown will last until March.
How £9000 lockdown grant works
- £4,000 for businesses with a rateable value of £15,000 or under
- £6,000 for businesses with a rateable value between £15,000 and £51,000
- £9,000 for businesses with a rateable value of over £51,000
In total, £4.6bn worth of new lockdown grants have been made available.
And this comes on top of another £1.1bn of further discretionary funding for local authorities, local business shutdown grants worth up to £3,000 a month and extending the furlough scheme until the end of April.
The cash will be issued on a per-property basis to support businesses through the national lockdown, and is expected to benefit over 600,000 business properties, totalling £4bn in grants across Britain.
Responding to the announcement of the £9,000 lockdown grant, Institute of Directors director of policy Roger Barker said: “This new grant package is welcome and will go some way to reassuring the worst affected businesses.”