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Local businesses in Milton Keynes which have been most affected by the latest wave of COVID-19 are set to receive a support package worth £11m from MK Council.
The money will be allocated to businesses in MK that have been impacted most by the recent Omicron variant. Using national funding, the Council will also granting a business rates discount to those who haven’t been eligible for previous government schemes.
Since the pandemic began, MK Council has distributed vital financial support through almost 20 different grant schemes for local firms, giving out over 11,500 grants to businesses totalling £64.7m.
The schemes that will be considered at a council meeting on 18 January include:
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Additional Restrictions Grant: Omicron – a £500,000 fund aimed at the hospitality, leisure and retail sectors who don’t need to pay business rates and were not eligible for the previous government scheme.
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Discretionary Rate Relief For Non-Domestic Rates – the £8.9m fund will be shared across businesses who have been affected by the pandemic, but have not qualified for previous business rates support.
At the meeting the council is also expected to approve a support package worth over £600,000 to be handed out over the next year to charities and not-for-profit organisations. Once approved, the schemes will be made available from February.
Details about how to apply, eligibility and existing schemes are available to view on www.milton-keynes.gov.uk/business/business-rates/help-for-businesses-during-periods-of-national-and-local-restrictions.
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