Government unveils new financial support for businesses in wake of Omicron

One of the things that has become apparent as we enter 2022 is that Covid is here to stay – at least for now. The Omicron strain is a (probably) less lethal, but more transmissible, variant of Covid-19, and it poses a fresh challenge to businesses that are finding themselves suddenly missing staff or losing customers to sickness. As a result, the government has announced a new support package to help companies – particularly smaller companies, and companies in the hospitality sector – keep their heads above water. There are three main sections to the package:

• One-off grants of £6,000 per premises for businesses in the hospitality and leisure sectors, and an additional £100 million in discretionary funding for other businesses
• The return of the Statutory Sick Pay Rebate Scheme (SSPRS) for businesses with fewer than 250 staff. This scheme will cover up to two weeks of absence due to Covid or Covid-related issues and is effective immediately. Employers can make retrospective claims on the scheme from mid-January.
• £30 million in support for cultural organisations through the Culture Recovery Fund.

According to the Treasury, the grants for hospitality and leisure sector businesses will be available in “coming weeks” and administered by local authorities.

It is vital to make sure that you make the most of any support available to you throughout the continuing coronavirus pandemic. If you need any advice or help when it comes to accessing this support, contact JW Hinks on 0120 456 0190. Our experienced team of accountants and business consultants can help you to ensure you are doing everything in your power to futureproof your business.