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Vital funding for businesses

Ealing businesses first to receive vital funding

Ealing Council tops the league for getting vital funding out to local businesses during the coronavirus crisis. According to a league table released yesterday, Monday, 20 April, by the Department for Business, Energy and Industrial Strategy (BEIS), Ealing Council has issued the most business rate grants in London and is 6th nationally to issue the grants announced by the government.

The council has already delivered more than 82% of the £68.2million it was awarded as part of the government’s financial aid package to support small businesses. Since Monday, 6 April, Ealing Council has issued £56million to over 91% of businesses or more than 4,250 businesses across the borough on behalf of the government.

The government support means that every business with a rateable value below £15,000 will receive a grant of up to £10,000. While larger businesses in the retail, hospitality and leisure industries, that are eligible, will receive £25,000 if they have a rateable value above £15,000 but below £51,000.

Eligible businesses do not need to apply for the funding as it will be paid automatically. Businesses are reminded to check their bank accounts and post for payments and to be wary of scams. If a business is eligible for the relief, the council will contact them. The council intends to issue the remaining grants to businesses by the end of this week.

Councillor Jasbir Anand, the council’s cabinet member for business and community services, said: “We know that every day of the lockdown will have a massive impact on our local economy, which is why we have been rapidly working to ensure small businesses are receiving the funding that may be a lifeline to keep them going.

“I want to thank businesses for continuing to observe the lockdown regulations and assure you that we are looking at how we can provide the right support to get you back on track when the lockdowns have lifted.

“If you’re a corner shop or take-away that’s still open – thank you for being a lifeline to our communities.”

In addition to the government funding, Ealing Council has established a £1.5million COVID-19 Emergency Fund to ensure that there is financial support available to businesses, community organisations and residents. The fund includes additional relief for registered nursery providers, funding for vital community services and additional support for the council’s existing financial support for residents.

Councillor Bassam Mahfouz, cabinet member for finance and leisure, said: “Our finance team has been working round the clock to ensure that Ealing businesses receive the vital funding that is so desperately needed. I know how grateful businesses, nurseries and community organisations are to have these funds in their accounts at this critical time. I am delighted that we are at the forefront of ensuring we issue those funds as quickly as possible, as well as expanding the offer made by government to support even more indispensable organisations in our borough.

“We are also here for our residents that have been affected by the economy and have put an additional £1.5million in place to ensure local people can access the critical support that they need during this unprecedented time.

“Please contact us if you are struggling. We want to assure you that we will continue to do everything we can to support you through this crisis.”

For more information and advice about the support available during the coronavirus pandemic, please visit the council’s coronavirus web pages at www.ealing.gov.uk/coronavirus

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