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Council updates COVID-19 business support package

Nuneaton and Bedworth Borough Council has updated its multi-million pound package of COVID-19 measures available to support local businesses, this week.

The Council’s ruling Cabinet heard on Wednesday (10 March) how hundreds of local businesses large and small – more than 500 so far – have already benefited from the local authority-administered programme of government support.

Working with Coventry and Warwickshire Chamber of Commerce, Coventry and Warwickshire Local Enterprise Partnership Growth Hub and the Federation of Small Businesses, the Council ensured the schemes provided support with rental liability, cash flow and exceptional hardship. Now measures are being targeted to support business recovery linked to the government’s roadmap for exit from lockdown.

As well as grant schemes already in place, a further package to support the local economy has been confirmed. The new package included measures worth around a further £1.5 million:

• Business Recovery Grant Scheme

• Strategic Business Support Scheme

• Reduction of parking charges, including free weekend parking for three months, once government restrictions allow;

• Further payments of grants to qualifying businesses;

• Additional grant for rent reduction for Market Traders once government retail restrictions allow;

• A further contribution towards the Coronavirus Business Interruption Loan

Scheme.

The package will be funded from the Additional Restrictions Grant.

Nuneaton and Bedworth Borough Council leader Cllr Julie Jackson said:

“Our aim in administering this scheme has been to ensure that the government’s financial support reached companies of all shapes and sizes, as one of the strengths of our borough’s business arrangements is the presence of many types of business, large and small, from a wide range of sectors.

“We have also been careful to see that elements of funding have been available throughout this uncertain period, so we could try and target whatever needs businesses identified at the most appropriate time for them.

“We have added to these substantial measures by ensuring we are ready to support increased demand for town centre facilities through some parking concessions and reduced market rents for traders, once Covid rules have been further rolled back.”

Coventry and Warwickshire Chamber of Commerce President and chair of its north Warwickshire branch Tom Mongan said: “We have been impressed by not just the size of the package of support, but also the diversity of organisations that has benefited and which will benefit as these new measures come into play.

“Through its partnership with us here at the Chamber and other business partners, considering the scale of the work that has been done, and the pace at which it has had to move throughout, Nuneaton and Bedworth Borough Council has done an excellent job in reaching every corner of our business community.”

One local business to benefit from the recent grant support was the Horseshoes public house in Heath End Road, Nuneaton.

Explained business owner Laura Mumford: “I would just like to say how quickly and efficiently your department have handled the grant payments.

“This is compared to some horror stories that I’ve read from other business owners from different boroughs who haven’t even been paid their December grants yet. I just wanted to say thank you as without your speedy payments I don’t think we would have gotten through this.”