Grant announced for businesses affected in second lockdown

Posted on 2 November 2020
By Khyle Medany
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Businesses that are forced to close under the upcoming second national lockdown, which is in effect as of Thursday, will be entitled to a new grant up to £3,000 per month, the Government has announced.

This year, grants of £10,000 and £25,000 were distributed to businesses affected by the lockdown – those who kept trading through the first few months of the pandemic were included. Now, with the country preparing to enter a second lockdown, some additional financial support has been confirmed.

Businesses forced to closed their doors will receive grants worth up to £3,000 per month under the Local Restrictions Support Grant (LRSG).

Effected businesses will be eligible for the following:
* For properties with a rateable value of £15,000 or under, grants to be £1,334 per month – or £667 per 2 weeks
* For properties with a rateable value of between £15,000-£51,000 grants to be £2,000 per month, or £1,000 per 2 weeks
* For properties with a rateable value of £51,000 or over grants to be £3,000 per month, or £1,500 per 2 weeks

The arts and creative industries have especially been hit during the pandemic, theatres closing and uncertainty sadly looming within the industry as a whole. Further information on business grants and support can be found here

Chancellor Rishi Sunak said:

“Over the past eight months of this crisis we have helped millions of people to continue to provide for their families. But now – along with many other countries around the world – we face a tough winter ahead.
“I have always said that we will do whatever it takes as the situation evolves. Now, as restrictions get tougher, we are taking steps to provide further financial support to protect jobs and businesses. These changes will provide a vital safety net for people across the UK”.