Further to the Chancellor’s recent announcements, COVID loan schemes have been extended.  Businesses will now have until the end of March 2021 to access the Bounce Back Loan Scheme and Coronavirus Business Interruption Loan Schemes (CBILS), which had been due to close at the end of January.

Local authorities continue to administer the grants available to eligible businesses affected by Tier 2 or Tier 3 restrictions. In addition to the ongoing support for businesses in the areas affected by national restrictions (e.g. nightclubs), grant schemes currently open include:

The Local Restrictions Support Grant (for closed businesses) – LRSG (closed)

Your business may be eligible if it:

  • is based in England
  • occupies property on which it is the ratepayer who pays business rates
  • is in an area of local Tier 2 or Tier 3 restrictions and is required to close as a result for at least 14 days
  • has been unable to provide its usual in-person customer service from its premises (which would include restaurants who have been forced to provide a takeaway only service).

The Local Restrictions Support Grant (for open businesses) – LRSG (open)

Your business may be eligible if it:

  • is based in England
  • is in an area subject to Tier 2 or Tier 3 local restrictions and has been severely impacted because of them
  • was established before the introduction of Tier 2 or Tier 3 restrictions
  • has not had to close but has been impacted by local restrictions.

This funding is expected to be targeted at hospitality, hotel, bed & breakfast and leisure businesses.

The Additional Restrictions Grant (ARG)

This is expected to support businesses which, while they may not be legally forced to close, are nonetheless severely impacted by the restrictions and are not eligible for other grants, for example businesses:

  • which supply the retail, hospitality and leisure sectors
  • in the events sector
  • required to close but which do not pay business rates.

Pubs and bars Christmas support

Wet led pubs and bars in Tiers 2 and 3 that make most of their income from drink sales will be able to apply for a one-off Christmas support payment of £1,000.

Further information and applications

The specific eligibility criteria and award of these grants (and any other local financial support which may be available) is the responsibility of the local authority where the business is based, so businesses should seek further information (including how to apply) from their relevant local authority, a good starting point is the LEP website.

Ali Jones
Ali Jones
Consulting & Corporate Finance Partner

Ali provides strategic planning, consulting and corporate finance solutions to help clients to deal effectively with problems and make the most of business opportunities.

Ali’s profile >