Published Monday, 8th March 2021
The Council has awarded support and grants totalling almost £64million to help businesses in Sutton since the start of the Covid pandemic a year ago.
5,500 grants have been paid to local businesses and rates-relief applied on over 1,000 commercial properties in the borough. The grant schemes are wholly funded by the Government as part of their package of support for businesses.
Key grants issued by the Council include:
Small Business Grant Fund - 1,408 grants paid totalling £14,080,000
Retail, Hospitality and Leisure Grant Fund - 595 grants paid totalling £11,740,000
Discretionary Grant Fund - 174 grants totalling £1,290,000
Additional Restrictions Grant - 380 grants paid totalling £1,116,143 to date
Local Restrictions Support Grant (LRSG) “open” and “closed” schemes - 2,376 grants paid totalling £3,298,000 to date
Closed Business Lockdown Payment - 613 grants paid totalling £2,894,000 to date
Business Rates relief for the full 2020/21 year has also been awarded by the Council to 1,064 retail, hospitality and leisure businesses so far totaling £28,594,000.
The Council’s Revenues and Benefits and Opportunity Sutton teams have established the local discretionary grant funding schemes and identified Sutton businesses that would be eligible to receive grants and reliefs.
From 12 April all non-essential retail, personal care and outdoor hospitality will reopen, and indoor hospitality venues will follow from 17 May.
Councillor Jayne McCoy, Chair of Sutton Council’s Housing, Economy & Business Committee, said:
“We know how many local businesses have suffered as a result of Covid. The Council is supporting the local economy as part of our “Ambitious for Sutton” plan to provide help to small businesses.
“The Council worked fast to establish all the different schemes and administer grants. We know that businesses applying for support have very limited reserves left so there was an urgent need to get funding to them as quickly as possible.
“This £64 million issued over the past year in grant funding and reliefs is vital to enable Sutton’s businesses to meet their financial commitments during the pandemic and ensure they can continue until restrictions start to be lifted.”