An emergency fund of up to £40million has launched today (Thursday 15th October) in a bid to protect Liverpool City Region’s vital hospitality and leisure businesses from the huge economic impact Covid-19 restrictions are having on the sector.
First announced Friday 2nd October by the Metro Mayor and the Mayor and Leaders of the city region’s six local authorities, the fund had been created and readied for launch earlier last week.
However, it was paused following the Chancellor’s announcement last Friday on the national furlough scheme and business support package and the announcement of Liverpool City Region being placed in to the Tier 3 ‘very high risk’ Covid-19 category.
Over the last few days, Combined Authority and Local Authority officers have been working closely with the hospitality sector to understand how the fund could best be redesigned to support them.
The fund aims to enable viable businesses to continue trading and retain as many jobs as possible; support temporarily closed businesses to top up employees’ wages and remain solvent; and to help lay the ground for economic recovery across the hospitality and leisure sector in the future.
It will be used to help keep businesses in the sector afloat for up to four months, until a wider and more substantial financial support package can be secured from central Government.
The aim is that the first funding will reach applicants within 10 days of applications being approved, with subsequent payments phased over the period of the grant.
A ‘grant application window’ will open at 10am on Friday 16th October 2020 and will close at 5pm on Friday 30th October 2020
Eligible businesses wishing to apply should visit their own Local Authority websites for details and will be able to apply online when the window opens.
Detailed eligibility criteria will be available to applicants and will include:
Small and micro hospitality and leisure businesses
- Based in the Liverpool City Region – Halton, Knowsley, Liverpool, Sefton, St Helens and Wirral
- One full time equivalent employee or more
- Going concern
- Business to consumer
- Trading from a commercial premises