Instreatham has been actively monitoring the Coronavirus outbreak here in the UK
We have been communicating directly with the government, on a local and national level. This is helping to ensure our businesses get exactly what they need.
We want to reassure you that we are continuously working in the background to maintain the value we give our members.
Some projects are still running and we’ll keep members informed of any developments with our activities.
Government support for businesses
The government have announced broader financial support for businesses coping with the economic impact of coronavirus. This includes:
The Chancellor announced £4.6 billion in new lockdown grants to support businesses and protect jobs in the retail, hospitality and leisure sectors. Businesses are to receive a one-off grant worth up to £9,000. This is on top of the funding which has already been guaranteed to continue to provide the devolved administrations the certainty they need to plan for their COVID-19 response in the months ahead.
- The one-off top-ups will be granted to closed businesses as follows:
- £4,000 for businesses with a rateable value of £15,000 or under
- £6,000 for businesses with a rateable value between £15,000 and £51,000
- £9,000 for businesses with a rateable value of over £51,000
- £594 million discretionary fund also made available to support other businesses impacted by the restrictions.
- comes in addition to £1.1 billion further discretionary grant funding for Local Authorities, Local Restriction Support Grants worth up to £3,000 a month and extension of furlough scheme
All businesses eligible for the National Lockdown Grants in November will automatically be entitled to receive the new Government grants WITHOUT APPLYING. You will automatically be credited with one bulk payment which will include three payments of:
- Tier 4 Grants from November 20th to January 4th
- National Lockdown grants from 5th January to February 22nd
- The additional Closed top up grant of £4,000, £6,000 or £9,000 depending on the size of your business
As always please keep hold of your reference number so we can support any enquiries you may have.
At Instreatham BID we will continue to provide a voice for business within Streatham and continue to offer clarification and guidance to our members.
The first round of Lambeth’s Economic Resilience Fund will open for applications in January 2021, to help support Lambeth businesses who have been impacted by the Coronavirus pandemic. Lambeth Council will be making £3.2 million available in this first phase to […]
From Wednesday 16th of December, London will move to Very High alert (Tier 3). Businesses that can stay open: All shops, including non-essential retail. Leisure and sports facilities (however group exercise classes should not go ahead and saunas and steam […]
Bounce Back Better Campaign – Call for special support measures for retail, hospitality and leisure businesses!
Businesses in hospitality need help – they need it now! The financial support for businesses is totally inadequate as 99% of England is placed in to Tier 2 and Tier 3. That’s why we’re supporting the #BounceBackBetter campaign, asking for […]
As the national lockdown comes to an end, regions across the country will transition into tiers according to the rate of COVID19 cases. London will move in to a Tier 2 restriction area when the national lockdown ends at midnight […]
This week, a new tier system was announced to reduce COVID-19 cases across the country. The move from the Medium to High tier for London is effective from midnight on Friday 16th October. All businesses and venues must follow COVID-secure guidelines […]
London Business Hub’s COVID-19 Recovery Grant will open on Friday,16th October at 10.30am. Eligible SMEs will be able to secure grants of between £1,000 – £5,000 to help them access professional, legal, financial or other advice and /or new technology and other minor equipment to address […]
Business Support Helpline
As of March 23rd 2020, our staff will work remotely and will continue to be operational during business hours, Monday to Thursday, 9:00 – 17:30. We are available to offer support through all of our channels. If you would like to book a phone consultation to discuss ways in which we can support you please email us to set this up.