Hospitality, gyms and sports and personal care businesses can now apply for grant funding to help them bounce back from the impact of Covid-19 restrictions.
Tower Hamlets Council is distributing a total of £3,162,783 to local businesses under the Additional Restrictions Grants (ARG) scheme, offering a much-needed boost to the local economy.
The government allocated the borough a further £714,552, which the Council is providing to businesses most affected by the rise of the Omicron variant and government advice to work from home. Registered hospitality, gyms and sports and personal care businesses are likely to have the highest fixed-term costs.
John Biggs, Mayor of Tower Hamlets, said:
“The Omicron variant couldn’t have come at a worse time for the hospitality sector as businesses were geared up for the Christmas period. This additional funding is a welcome boost for them but also for gyms, sports and personal care businesses in the borough.
“Throughout the pandemic, we’ve worked hard to support our local businesses and will continue to do so in the months ahead.”
Cllr Motin Uz-Zaman, Deputy Mayor and Cabinet Member for Work, Economic Growth and Faith, said:
“Covid-19 has had a huge impact on us all. It’s a sad fact that many businesses haven’t survived the effects of the pandemic, and those that have are struggling financially. This funding is going to make a big difference to eligible businesses and will be a lifeline for the local economy.”
Businesses must meet the following criteria to be considered eligible for the funding:
Hospitality, gyms and sports and personal care businesses must provide services in a fixed rate-paying premises.
Businesses must have been trading on 30th December 2021.
Businesses that have already received grant payments that equal the maximum permitted subsidy allowances are excluded.
Businesses that are in administration, insolvent or where a striking-off notice has been made are excluded.
The scheme will close for applications on 15 February 2022.
Posted on Monday 7th February 2022