Business groups welcome lockdown grants but say more help is needed02/10/2020
Business groups, including the Confederation of British Industry (CBI), the Association of Independent Professionals and the Self-Employed (IPSE), and the Federation of Small Businesses (FSB), have welcomed the announcement of new cash grants for businesses.
The government’s latest round of business stimulus will be aimed at companies and self-employed workers that are required to shut as a result of local lockdowns. In that eventuality, English businesses will be able to claim up to £1,500 per property in compensation every three weeks.
In a statement, the FSB said that these grants are “much-needed additional financial lifelines” for the businesses hit hardest by COVID-19. Mike Cherry, the group’s National Chairman, said: “Though a lot of firms have now been able to reopen, thousands are still impacted by local lockdowns. We look forward to working together with local government to make sure there is a straightforward claims process for all firms affected.”
However, other business groups have suggested that more help is still required. Andy Chamberlain, Director of Policy at IPSE, said: “We welcome the fact that government is supporting businesses affected by local lockdowns. However, although this will help some self-employed people with business premises, it will leave the great majority out in the cold.”
Annie Gascoyne, the CBI’s Director of Economic Policy, added: “New direct cash grants will certainly help small businesses if their area falls under new restrictions to protect public health. But the impact of COVID-19 is still hurting businesses, so the government will need to look at more targeted support in the autumn. That needs to include a successor to the furlough scheme and allowing businesses to defer VAT payments from July to September.”
If your business is being affected by local lockdowns, get in touch with JW Hinks on 0121 456 0190 and find out how we can help.