Funding coming soon for cash-strapped Newcastle businesses

With government guidance just released on support grants for businesses in Tier Two restrictions, as well as support for businesses forced to close due to the current national lockdown, the council is busy working through the details to ensure a streamlined application process for when the funding becomes available.

 Cllr Ged Bell, cabinet member for employment and culture at Newcastle City Council said: “As with most government announcements, there is a delay in the detail and funding reaching the council, but now we have the guidance, we are looking at the best way to support our local traders.

 “We know these are incredibly anxious times for our businesses, particularly with forced closures in the run-up to Christmas, and businesses are looking to councils to provide certainty and support during these challenging times.

 “The guidance we have received is incredibly complex and not as clear cut as government announced, so our teams are working hard to simplify the eligibility criteria and to reduce bureaucracy and red-tape for businesses so they get all of the financial support available to them easily and promptly.

 “Earlier this year, we administered over £61.5 million to support our local economy, and we would like to reassure businesses that we will have the teams and systems in place to act quickly as soon as the funding reaches us. We will make a full announcement as soon as we are able to.”

 With Newcastle placed as a high-alert area on 14 October, funding was announced by the Chancellor to prop up the city’s hospitality and leisure venues which were not required to close but were severely impacted by the restrictions on socialising.

Depending on the size of venue, grants would be available each month for eligible businesses with payments back dated from the when local restrictions came into force.

 Further financial packages were announced by government on 2 November to support jobs and businesses forced to close due to national lockdown restrictions.

 The council are working through the detail on how the schemes will work and are aiming to launch in mid-November. It is expected that businesses will complete an online form at www.newcastle.gov.uk/covidbusinesssupport, with payments received within ten working days.