The emergence of the Omicron variant, and the significant increase in coronavirus cases it has generated, has caused significant disruption to business, particularly to those in hospitality and leisure sectors for whom the Christmas period provides the most profitable period.
The Chancellor of the Exchequer has recognised the challenges that this poses to businesses within these sectors, as well cultural organisations and small businesses, and has announced today a package of financial support worth £1 billion to help see them through this period.
Approximately 200,000 businesses in the hospitality and leisure sectors will be eligible for one-off grants of up to £6,000 per premises which will be distributed by local authorities within the coming weeks. In addition to the funding for hospitality and leisure businesses, local authorities will also be provided with a further £103 million of discretionary funding which they may distribute via the Additional Restrictions Grant scheme. Further information on the administration of these schemes will be published in due course however local businesses are advised to regularly check Havering Council’s website for further updates on how they plan to administer their own grant allocation at: https://www.havering.gov.uk/info/20191/coronavirus_covid_19/761/coronavirus_-_support_for_businesses
Cultural organisations have also been among the most impacted by the emergence of the Omicron variant and the Chancellor’s announcement includes the provision of £30 million further funding will be made available through the Culture Recovery Fund to support organisations such as theatres, orchestras and museums through the winter to March 2022. This builds on the initial £1.57 billion allocated to the Culture Recovery Fund which has twice provided grant support to local cultural landmark, the Queen’s Theatre, since the fund was launched in July 2020. For information on how to apply to the fund, visit: https://www.artscouncil.org.uk/CRFgrants
Of course it is not just the culture, hospitality and leisure sectors which have been affected by the Omicron variant and the Chancellor has therefore announced that small and medium-sized employers – those with fewer than 250 employees – will be supported by Government as they will be reimbursed for the cost of Statutory Sick Pay for Covid-related absences, for up to 2 weeks per employee. Firms will be eligible for the scheme from today and they will be able to make claims retrospectively from mid-January.
To view the Chancellor’s announcement of these measures, please visit: https://www.gov.uk/government/news/1-billion-in-support-for-businesses-most-impacted-by-omicron-across-the-uk
