Government Gives Lifeline to Derby Businesses

Derby Businesses Receive Government Lifeline

 

Derby businesses have received a vital lifeline from the Government to help them weather the coronavirus crisis.

The Government has distributed more than £12 billion pounds to local authorities as part of the small business grant scheme. Of this £12 billion, £6 billion has already been paid out to half a million business properties.

Derby City Council was allocated £45,866,000 by the Government through the Small Business Grant Scheme.

The scheme was introduced to help small businesses that are suffering as a result of the coronavirus outbreak and the subsequent fall in footfall. The £12.3 billion pot is distributed to local authorities, who are then able to allocate grants of £10,000 to small businesses and £25,000 to eligible leisure, retail or hospitality businesses.

The funding that has been allocated to Derby City Council could provide funding to up to 3,892 small businesses.

Of the funding that has been made available to Derby City Council, £15,945,000 has been allocated to 1,278 small businesses.

The move has been welcomed by Amanda Solloway, the Member of Parliament for Derby North.

Amanda said:

“The coronavirus crisis has posed a unique challenge to businesses. The Government has, quite rightly, introduced strict social distancing measures to prevent the spread of coronavirus. This has, obviously, put a lot of strain on businesses as footfall has fallen. The grant scheme that the Government has introduced is exactly what is needed to support these businesses.

This scheme, along with others like the pledge to pay 80% of wages and additional help for the self-employed, will ensure that hard-working families can continue to support themselves through this crisis.

The Government is determined to ensure that people aren’t faced with a choice between going out and risking their health or staying inside to prevent the spread of the virus. Schemes like this provide people with the means to do the right thing- stay at home, protect the NHS, and save lives.”