New Government fund to help 'the forgotten middle'

5 May 2020

Drycleaners and wetcleaners, falling in to what the UKFT, the trade association representing their interests, refers to as ‘the forgotten middle’ could benefit from the release of new Government funding.

The Government has now put in place a £617 million grant fund to help those businesses previously outside the scope of the existing business support grants.

The funding package is aimed at small businesses such as retail drycleaners with ongoing fixed property-related costs. The grants will be administered by local authorities and the Government wants the funds to be prioritised for those companies that pay rates indirectly via their landlords.

However, warns UKFT, local authorities may choose to make payments to other businesses based on local economic need. The allocation of funding will be at the discretion of local authorities.
Businesses must be small, under 50 employees, and they must also be able to demonstrate that they have seen a significant drop of income due to Coronavirus restriction measures.
There will be three levels of grants - £10,000, £25,000 and local authorities will have discretion to make payments of any amount under £10,000.
Further guidance will be announced shortly, says UKFT

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