Local authorities have allocated £21.3bn in COVID support grants to small businesses, a new report has revealed.
The funding was distributed through the Government’s COVID-19 Local Authority Business Support Grants in order to support micro, small and medium businesses during and after lockdown.
The new data, which includes a sector breakdown for the first time, shows over one-third of all available funding was allocated to the accommodation and food services sector.
Small business minister Jane Hunt said: ‘Our amazing small businesses are the backbone of our economy and their efforts both during and since the pandemic have been heroic.
‘In many cases, Local Authority Business Support Grants were essential to businesses who found themselves really struggling and who are now able to recover, grow, and look to the future.
‘By putting billions of pounds into business recovery, we have stood by our commitment to our small businesses and the communities, families, and livelihoods they form a key part of.’
