Atherstone MP Craig Tracey: I have seen how Covid support cash already in action is helping to protect both businesses and people's livelihoods

TOWN FIRMS AMONG MORE THAN 1,000 IN THE DISTRICT SHARING £13m SUPPORT PACKAGE

ATHERSTONE'S MP has spoken of how cash assistance is crucial to local entrepreneurs not having to "worry about paying the bills" as town businesses start to share a £13 million historic support package.

Craig Tracey said he was acutely aware of the "clear and painful" impact of Covid-19 on the North Warwickshire economy as 1,164 firms have been allocated one-off £10,000 and £25,000 grants from the Small Business Grants Scheme.

Nationally, the Government has provided more than £12 billion to local authorities to distribute and so far Atherstone companies are among 704 businesses which have received £8.1 million.

The scheme forms a small part of Chancellor Rishi Sunak's unprecedented rescue plan for British business – helping to pay people's wages through the Coronavirus Job Retention Scheme up to £2,500 per worker per month until the end of June; the Business Interruption Loan Scheme, assisting small and medium sized businesses access Government backed loans of up to £5 million, interest free for 12 months; giving all firms in the retail, leisure and hospitality sectors total business rate relief for 12 months; and helping all small and medium sized businesses with the cost of paying Statutory Sick Pay for employees off work due to Covid-19.

Mr Tracey told Nub News: "As a former small business owner myself I know that, aside from concerns about their health, many businessowners will have huge financial worries at this time.

"I have been working with numerous small businesses in my constituency who had real concerns about their future viability without support.

"It is hugely reassuring to report that Treasury support has already reached 1,850 businesses, across both North Warwickshire, Nuneaton and Bedworth.

"I have seen how this money is already in action, helping to protect both businesses and people's livelihoods.

"Now more than ever, it is hugely important that people have the financial support, whether that be through money for small businesses, the furlough scheme or support for the self-employed, so that they are able to focus on doing the right thing: staying at home, protecting the NHS and saving lives – without worrying about paying the bills."

The North Warwickshire MP's comments come after outgoing Atherstone Town Football Club chairman Brian Henney said he felt let down as three quarters of five million self-employed business people will "get nothing out of all this".

Last week the Cubic Apple boss accused the Government of "abandoning" Atherstone's army of entrepreneurs on the day its scheme to support businesses and help safeguard jobs in the wake of the coronavirus pandemic has opened for applications.

Mr Henney, in addition a consultant in the recovery business sector, also criticised the North Warwickshire MP for appearing to leave behind the "very people he said he was supporting – the self-employed – and was one them himself once."

Twin civic leader David Wright admitted earlier this month having "no system in place" to give hand-outs to coronavirus-hit Atherstone firms.

Councillor David Wright, chairman of Atherstone Town Council and borough council leader, explained delays had been inevitable "because we have had to get the bank details of every business".

The local authority sent out a covert 'distress' signal at the end of March when it said it was "working hard to enable the business grants announced by the Government to be paid".

It said as it did not hold all of the details needed to make the payments and would publish some information on the council's website later about "how you can assist us to collect this additional

This is available for businesses who:

• Were in occupation of the premises; and
• Were the ratepayer on March 11 and already receive small business rate relief or rural rate relief (these will be shown on your latest bill)

This grant is not available for premises occupied for personal use, car parks and parking spaces and businesses that as of March 11, 2020 were in liquidation or dissolved.

Retail, hospitality and leisure grant up to £25,000

• Were in occupation of the premises; and
• Were the ratepayer on March 11; and
• Have a premises that has a rateable value of less than £51,000; and
• Are eligible for business rate relief under the extended retail discount scheme.