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First Preston firms to receive emergency government funding this week

Posted on - 8th April, 2020 - 7:00am | Author - | Posted in - Business, Politics, Preston City Centre, Preston Council, Preston News
An empty Friargate - many businesses along the street may be eligible for the government funding Pic: Tony Worrall
An empty Friargate – many businesses along the street may be eligible for the government funding Pic: Tony Worrall

Preston firms who have applied for government funding to support themselves through the coronavirus pandemic are seeing the first payments this week.

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Businesses in the retail, leisure and hospitality sector, including pubs, are eligible for grants of £25,000.

Preston City Council, which is administering the grants, said the first firms to apply would see money in their bank accounts this week.

Only businesses who are on business rates between £15,000-a-year and up to £51,000-a-year can apply for the £25,000 support grant.

Small businesses who already receive business rates relief are able to receive a £10,000 grant on top of their existing rates relief.

Leader of Preston City Council councillor Matthew Brown said: “It’s a worrying time for many people and, quite rightly, business owners are looking for help and support during this crisis and as your council we want to get the message out.

“I would encourage all eligible Preston business owners – both small businesses and those in the retail, leisure and hospitality sectors to visit our website and complete the form for this vital support grant, which I’m sure will be very welcome in this current uncertainty.”

Read more: Businesses in Preston warned about hiking up prices during coronavirus pandemic

Business premises used for storage and personal use are exempt from receiving the funding, for example private stables or moorings.

On top of the grant funding the government announcement businesses in the retail, leisure and hospitality sectors will not have to pay business rates in 2020/21.

Some business owners have spoken out about a lack of support, especially if they were due to be opening new businesses.

Read more: New directory aims to connect Preston and South Ribble people who are self-isolating

Any business that wants to apply can visit the Preston City Council website.

Read more: See the latest Preston news and headlines

Do you run a small business? How are you faring? Let us know in the comments below

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