New £1 billion fund for businesses

On 21 December, the Government set out a £1 billion fund to help businesses hit by the rise in COVID-19 cases.

We know many of you have been affected by the latest COVID measures and will be keen to find out more, however, at this stage we do not have any further details from Government. As soon as we can, we will begin implementing the new scheme and will let you know the timelines for submitting applications and making payments.

Here’s what we know so far…

  • Pubs and restaurants, bars, cinemas and theatres will be able to apply for a grant of up to £6,000 for each of their premises
  • Other struggling businesses outside leisure and hospitality will be able to apply for a different grant, known as the Additional Restrictions Grant, which will be topped up with £102 million
  • An extra £30m for arts organisations will be available through the existing Culture Recovery Fund

We will distribute relevant details via the SVBS newsletter once we have received further information from Government. If you haven’t already done so, you can sign up here.

 

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Small and medium-sized businesses will be able to claim money from the government to cover statutory sick pay that is paid to employees affected by COVID-19.

The Statutory Sick Pay Rebate Scheme, which originally closed in September, is part of a series of measures announced to support firms affected by the new wave of infections.

The scheme means businesses with fewer than 250 employees will be reimbursed SSP for COVID-related absences, for up to two weeks per employee.

The scheme will be reintroduced from mid-January 2022, and businesses will be able to make claims retrospectively.

More on information can be found on the Government website.

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