Smaller businesses across the whole of England received £21.3 billion through the government’s COVID-19 Local Authority Business Support Grants scheme, a new report has shown.
Micro, small, and medium sized firms across different business sectors benefited from the funds available under the scheme, which was created to support businesses during and to recover from the impact of the global pandemic.
The new information, which includes a sector breakdown for the first time, shows more than a third of all available funding was allocated to the accommodation and food services sector, a part of the economy hit hardest by the pandemic.
The grant scheme was created by the UK government and administered by local authorities, with all regions in England found to have allocated most of their total available funds to businesses in need.
Small Business Minister Jane Hunt said: “Our amazing small businesses are the backbone of our economy and their efforts both during and since the pandemic have been heroic.
“In many cases, Local Authority Business Support Grants were essential to businesses who found themselves really struggling and who are now able to recover, grow, and look to the future.”
Data shows the accommodation and food services sector received the most funding. Businesses in this sector have also seen significant support from the government’s Hospitality Strategy, published in July 2021.
Firms operating in wholesale retail, arts and entertainment, recreation, and other services industries were also among the different business sectors to receive substantial help under the scheme.
