More cash support for some of the borough’s hard pressed small businesses

Published: Monday, November 22, 2021

A number of businesses in the Brighter Borough that have faced hardship and lost custom during the pandemic will this week receive another welcome cash injection in the latest round of grants being processed by the council.

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Money is still available to support local businesses through the Government’s Additional Restrictions Grant (ARG).

More than 850 small businesses in Wandsworth that have previously qualified for both an original ARG grant of differing values dependant on size, plus an initial fixed amount top-up of £4,500 in June of this year, will now receive an additional fixed amount cash injection of between £2,000 and £2,300.

In total businesses in Wandsworth eligible for ARG support will have received funding worth almost £12.5m.

The latest tranche of cash will begin arriving in eligible business bank accounts before the end of this week.

This latest version of the scheme replaces previous versions of ARG, meaning no further applications can be approved Any application received prior to the introduction of this Revised Scheme will be honoured in accordance with the rules of the previous schemes.

Since the beginning of the pandemic, the council has distributed more than £107m in financial support to local businesses.

As well as cash grants, over 2,600 have benefited from full business rates holidays or reductions as well as all recovery action being stopped for the whole of the 2020/21 financial year and the first half of the 2021/22 period.