Government support for 1019 Mansfield businesses during virus crisis
Support from the Government has helped 1,019 businesses in Mansfield under pressure during the coronavirus crisis.
Grants dished out as part of the Government’s Small Business Grants Scheme totalling more than £11,780,000 have made their way to small enterprises in the area.
The Government launched the Small Business Grants Scheme, backed by £12.3 billion to address pressures faced by small businesses due to the Covid 19.
The funding goes to local authorities, who are then able to offer grants of up to £10,000 to small businesses, and up to £25,000 for eligible leisure, retail and hospitality businesses.
Since the scheme’s launch in March, £6.1 billion has already been paid out to 491,725 business properties across England.
In total, Mansfield has been provided with £20,310,000, which could help as many as 1,595 businesses in the area.
Government support includes:
- Help to pay wages through the Coronavirus Job Retention Scheme
- Introducing the Coronavirus Business Interruption Loan Scheme to provide loans of up to £5 million
- Interest free for 12 months to small businesses
- Taking retail, leisure and hospitality businesses out of business rates for the next year
- Helping small and medium-sized businesses with Statutory Sick Pay costs for employees absent due to Covid-19.
Ben Bradley MP said: “This is an incredibly challenging time for businesses, especially for the smaller firms that are at the heart of our local community in Mansfield.
“It’s hugely reassuring to know that the Government support has already reached 1,019 businesses in Mansfield, and is helping to protect businesses and livelihoods.
As Parliamentary Private Secretary to the Business Secretary I’ve been able to raise local business concerns directly with Government, and I know that businesses across Mansfield have welcomed this funding.
"I'd like to thank Mansfield District Council for getting these grants paid out to businesses quickly, and ensuring that they have the cash in the bank when many other councils are still catching up.
Business Secretary Alok Sharma said: “I am very grateful to local authorities who have been working flat out to ensure these vital funds get to hard-pressed small business owners.”