Southwark council pays out £15m in small business grants during coronavirus crisis
By Grainne Cuffe, Local Democracy Reporter
Southwark council has paid out £15 million in grants for businesses so far amid the coronavirus outbreak.
The council will cover the grants until Government funding kicks in.
The small business grant provides any business receiving small business rate relief with a cash grant of £10,000.
Those in the retail, hospitality, and leisure sectors with a rateable value of under £15,000 will receive a grant of £10,000 per property, and businesses with a rateable value of between £15,001 and £51,000 will receive a grant of £25,000 per property.
Southwark is encouraging small businesses which could be eligible to contact the council.
Councillor Peter John, Leader of Southwark council, said: “I am immensely proud, not just of our active voluntary sector who have already put their hat in the ring to help at every opportunity during this crisis, but also of the resilience of our local businesses.
“Their dynamism and agile approach to the public health requirements has been phenomenal, with many businesses quickly adapting to new ways of trading in order to keep the local economy going, and ensure residents continue to receive the essential goods they need.
“But there are many more businesses in Southwark who are either really struggling, or have had to cease to trade, and these are the ones at the forefront of my mind as the situation develops.
“We aim to do all that we can to administer the Government support where it is our role to do so, offer our own support – both financial and practical, and work with the expertise of the voluntary sector in order for Southwark’s businesses and residents to continue to thrive as this economic storm hits us.
“As well as this, our trading standards team will be supporting the Government in clamping down on unscrupulous businesses who exploit people when they are at their most vulnerable by illegally hiking up prices or charging unnecessarily for services.”