Leicester and Leicestershire’s Growth Hub has welcomed the measures announced in yesterday’s budget by Chancellor Rishi Sunak.
The Chancellor’s budget includes additional support for businesses as they gradually emerge from the pandemic and the ongoing impact of the UK’s departure from Europe. Key points of the budget include a continuation of funding support for the furlough scheme and for self-employed people which will now last until the end of September.
The main highlights for businesses across the East Midlands include a share of the £5bn in Restart grants for businesses (including shops) that were forced to close. These premises will receive between £6,000 and £18,000 each with hospitality and leisure in the higher bracket.
Jon Egley, manager of the Growth Hub for Leicester and Leicestershire, commented: “We’re delighted that the Chancellor has given this additional support to our region’s businesses. As the one-stop-shop for business support in the city and county, we know how much this is needed. Our team are ready to help businesses make the best use of these funds to address some of the issues they’re still facing following our exit from Europe and the pandemic. I would encourage business owners in our region to get in touch with us and discuss their next steps.
“It’s a relief to see support for Arts venues across the UK because the creative sector is very important to Leicester. We are planning to work closely with them in the coming months. It’s also good to see the 5% reduced VAT rate for tourism and hospitality extended for six months.”
The Growth Hub website will be updated when details of the new Restart grants are published. In the meantime businesses who would like no-cost impartial advice on any business issue can contact the Growth Hub by completing an enquiry form, emailing growthhub@bizgateway.org.uk or calling 0116 366 8487.
