With a vote on the measures having succeeded in the House of Commons earlier today, England will be entering a Government mandated month-long lockdown beginning Thursday 5th, and due to end on December 2nd.
We understand that this is an especially difficult time for many South Bank businesses, who were beginning to see signs of financial recovery after the lockdown earlier this year. The BID will continue to work throughout lockdown to ensure the voices of South Bank businesses are heard by policy decision makers, local governing bodies and other stakeholders.
Alongside this work, the BID’s fundamental services will remain in place, including keeping the area safe and secure via South Bank Clean Team and Patrol Team, and digital place promotion through South Bank London.
Outlined below are links to important information businesses need to be aware of at this time, including the latest support measures announced and the Covid-19 business hubs for both Lambeth and Southwark Council.
The BID team will also continually be updating the Covid-19 Resources Hub with the latest support measures and most useful resources available for businesses in South Bank.
Financial Support Available for Businesses
If your business is eligible and has a property with a rateable value of £51,000 or above, you will receive a cash grant of £1,500 for each 3-week period your business is closed.
The grant will be extended to cover each additional 3-week period, so if your business is closed for 6 weeks it will receive £2,000 or £3,000, depending on the rateable value of the property. For further information, please see here.
Furlough Scheme Extension
The Furlough scheme has also been extended; workers in any part of the UK can retain their job, even if their employer cannot afford to pay them, and be paid at least 80% of their salary up to £2500 a month.
The Job Support Scheme will not be introduced until after Coronavirus Job Retention Scheme ends. For further information on the furlough scheme, please see here.
For the Government’s support finder tool, which allows you to determine which support packages you may be applicable for, please see here.