The grants available for small businesses in Tier 2 and Tier 3 areas
Small businesses in areas of the country officially deemed at higher risk of a rapid spread of Covid-19 may be able to claim extra financial support to help them cope with additional restrictions.
You are now subscribed
Your newsletter sign-up was successful
Want to add more newsletters?
Twice daily
MoneyWeek
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
Four times a week
Look After My Bills
Sign up to our free money-saving newsletter, filled with the latest news and expert advice to help you find the best tips and deals for managing your bills. Start saving today!
Firstly, there are new grants for those business hit by Tier 2 restrictions, which mean only people from the same household can meet up in leisure, tourism and hospitality settings such as pubs, coffee shops and restaurants. Businesses suffering financially as a result will be able to claim grants of up to £2,100 a month, backdated to August.
Local authorities will administer the grants and set many of the precise rules about who is eligible. How much businesses can claim is linked to the rateable value of their premises. Those with a rateable value of £15,000 or less will qualify for £934 a month; this rises to £1,400 for firms in premises valued at between £15,000 and £51,000; and to the full £2,100 for those in higher-value properties.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
How a ‘great view’ from your home can boost its value by 35%A house that comes with a picturesque backdrop could add tens of thousands of pounds to its asking price – but how does each region compare?
-
What is a care fees annuity and how much does it cost?How we will be cared for in our later years – and how much we are willing to pay for it – are conversations best had as early as possible. One option to cover the cost is a care fees annuity. We look at the pros and cons.
-
"Botched" Brexit: should Britain rejoin the EU?Brexit did not go perfectly nor disastrously. It’s not worth continuing the fight over the issue, says Julian Jessop
-
'AI is the real deal – it will change our world in more ways than we can imagine'Interview Rob Arnott of Research Affiliates talks to Andrew Van Sickle about the AI bubble, the impact of tariffs on inflation and the outlook for gold and China
-
Tony Blair's terrible legacy sees Britain still sufferingOpinion Max King highlights ten ways in which Tony Blair's government sowed the seeds of Britain’s subsequent poor performance and many of its current problems
-
How a dovish Federal Reserve could affect youTrump’s pick for the US Federal Reserve is not so much of a yes-man as his rival, but interest rates will still come down quickly, says Cris Sholto Heaton
-
New Federal Reserve chair Kevin Warsh has his work cut outOpinion Kevin Warsh must make it clear that he, not Trump, is in charge at the Fed. If he doesn't, the US dollar and Treasury bills sell-off will start all over again
-
How Canada's Mark Carney is taking on Donald TrumpCanada has been in Donald Trump’s crosshairs ever since he took power and, under PM Mark Carney, is seeking strategies to cope and thrive. How’s he doing?
-
Rachel Reeves is rediscovering the Laffer curveOpinion If you keep raising taxes, at some point, you start to bring in less revenue. Rachel Reeves has shown the way, says Matthew Lynn
-
The enshittification of the internet and what it means for usWhy do transformative digital technologies start out as useful tools but then gradually get worse and worse? There is a reason for it – but is there a way out?
