UK Government pays nearly £40 million to small businesses in Sheffield

No fewer than 3,223 small business in Sheffield have received Government funding totalling nearly £40 million since the coronavirus lockdown began.

Saturday, 25th April 2020, 7:35 am
Updated Saturday, 25th April 2020, 7:36 am

The Government’s Small Business Grants Scheme has paid out more than £37.765 million to companies in the city since it opened.

The funding, which the Government said does not need to be repaid, has been provided “in recognition of the extraordinary pressures facing small businesses during the coronavirus outbreak”, Conservative MP Miriam Cates, who represents Penistone and Stocksbridge, said.

Ms Cates said Sheffield has been allocated more than £113 million of the £12 billion pot, which could help as many as 9,334 businesses in the area.

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Penistone and Stocksbridge MP Miriam Cates with fellow Conservative politician Chris Heaton-Harris.

She said: “This is a hugely challenging time for businesses, especially for the smaller firms that are at the heart of our local community in Penistone & Stocksbridge.

“If any business owners in my constituency are struggling to get the support they need, please get in touch with me and I can offer specific advice.”

The funding is provided to local authorities, who are then able to offer grants of up to £10,000 to small businesses, and up to £25,000 for eligible leisure, retail and hospitality businesses.

Since it launched last month, £6.1 billion has been paid out to 491,725 businesses across England.

The Government is facing calls to ensure local authorities are also protected against the financial hit of coronavirus, with Derbyshire Council claiming to the virus has cost them an eye-watering £3.781m. The Council said it has received just £59,000 from the initial £1.6bn provided to shore up local authorities nationally.