The coronavirus pandemic has caused more damage to humanity within months than many wars have. If you were running a small business in retail food, catering, or hospitality at large, you know what we are talking about – and if your business survived the plummet, you are right to consider it a miracle.
In these times, we think it is vital that thought leaders spread good-quality information among their followers that enable small business owners in their industry to get the help and support they need.
With this goal in mind, we have put together a comprehensive list of government-approved grants and funding opportunities for restaurants, retail food businesses, and other small businesses associated with the hospitality industry.
These grants are currently active. So waste no time in applying for the ones that suit your needs.
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LIST OF ACTIVE GRANTS FOR HOSPITALITY BUSINESSES IN THE UK
- Local Restrictions Support Grant (LRSG) for Closed Businesses: This category of LRSG is actively helping small businesses in various industries that were forced to close during the pandemic. You can apply for the grant from your local council’s website and get £1,334 to £3,000 a month depending on the value of your business assets (Find your local council).
- Local Restrictions Support Grant for Open Businesses: This LRSG category supports businesses that survived the pandemic because it is expected even those that survived were damaged. Using a tiered system, these grants offer between £934 and £2,100 to such businesses. This grant is solely given at the discretion of local authorities, which means you will need to talk to your local business authority to see if you can apply. (your local council).
- Retail, Leisure & Hospitality Top-up Grant: This one-off top-up grant was announced earlier this month for businesses in the hospitality and retail sectors. Businesses that were forced to close since the August 2020 lockdown are being prioritised for this particular grant. Depending on your business size, you can get between £4,000 and £9,000 through your local council.
- Wet-led Pubs’ Christmas Support: This grant is particularly authorised for pubs that were affected by tier-2 and tier-3 restrictions during the month of December last year. It comes as a one-off payment of £1,000. If your pub was closed due to restrictions around Christmas 2020, you should contact your local council regarding this grant.
- Bounce Back Loan Scheme (BBLS): This loan scheme was announced in summer 2020 and revised for greater flexibility in September 2020. Using this scheme, you can apply for a loan between £2,000 and £50,000 from accredited lenders who get the government’s guarantee on repayment. If you are selected for the loan, you will only start repaying after a year and the government will take care of any interests or processing fees for the same period. Learn more about the scheme or simply apply on the government’s official website for the scheme.
- Right to Insurance Payouts: Supreme Court rules some policies for Covid losses that can provide cover against the impact of virus and lockdown measures. Under this policy, the businesses can claim insurance payments for their Covid-19 losses, as per the supreme court’s ruling.
Again, these grants are currently active and you can go for whichever ones suit your situation right away.
Do you know of any other grants that businesses in the hospitality industry could benefit from? Share authentic details in the comments section for everybody to see.
