Businesses urged to snap up £850m in unused Covid-19 support
Businesses have been urged to apply for Covid-19 supports grants, after the business minister admitted today that £850m worth of funding is still up for grabs.
The funding has been made available by government to councils in England, for them to distribute to businesses in need.
More than £550m is still yet to be allocated to hospitality businesses, as part of the Omicron Hospitality and Leisure Grant scheme which opened in January.
While another £294m is still available through the Additional Restrictions Grant (ARG) scheme, which has been supporting businesses since November 2020.
The government has forked out around £400bn to keep businesses up and running throughout the pandemic, including government-backed loans, VAT cuts and business rates holidays.
“We’re working to get our economy running on all cylinders again so we can focus on making the UK the best place in the world to work and do business, creating jobs along the way,” small business minster Paul Scully said.
“Eligible businesses should apply as soon as possible for the grants available to help them put the pandemic behind them and get on a sounder footing to achieve success.”
Business secretary Kwasi Kwarteng has written to the local authorities who still have over five per cent left over from previous ARG funding rounds, asking for them to reimburse the leftover cash.