Merton Council will distribute just over £4.7 million of Government funding to support businesses severely affected by COVID-19.
The COVID Additional Relief Fund will provide financial assistance to businesses severely impacted by the pandemic and who were not eligible for any previous COVID reduction on their business rates bills. This support will be in the form of a reduction to the business rates bill.
Although the funding is from the Government, local authorities have the power to decide how it can be distributed.
The council’s cabinet approved the plan last night (Monday) to divide funds equally among those applications received. Applications will open in mid-February.
Businesses will be asked to demonstrate the impact the pandemic has had on them and why they have not been able to adapt to minimise the impact.
Councillor Owen Pritchard, Cabinet Member for Finance, said: “Businesses in the borough have had a difficult couple of years, coping with the fall out of lockdowns and COVID-19 restrictions.
“This grant funding will be available to businesses across the borough and will help them to grow, develop and return to the success they enjoyed before the pandemic struck.
“We are pleased to be able to further support to our local businesses and I would encourage all those who are eligible to apply.”
In 2020, Merton was one of the top three fastest boroughs in London to get vital grants distributed to businesses in need.
Supporting local businesses and high streets will be a major part of the Council’s Merton 2030 programme aimed at improving the borough for those who live and work here.
For more information about grants, visit: www.merton.gov.uk/coronavirus/business/grants/overview