Prime Minister, David Cameron’s promise last week that ‘money was no object’ in relation to the current flood crisis will become a reality later this week when funding allocations to local authorities will be announced.
Eligible Small and Medium Enterprises (SMEs) who have been flooded, or are in areas that have been subject to ‘significant loss of trade’ since December 2013 due to floods can claim a slice of the £10m in order to cover clean-up costs and keep them trading.
Helping businesses get back on their feet
Prime Minister David Cameron said:
“The government is taking action across the board to deal with the clear-up and help hard-working people affected by the floods. I am announcing further support for businesses hit to help them get back on their feet. Dealing with these floods will be a long haul, requiring a stepped-up national effort with the whole country pulling together. We will continue to help the people who need help and protect the communities that need protecting.”
Find out how to apply
The allocation the Isle of Wight council receive will be based on the number of affected businesses. They’ll be using guidance provided by the government to determine how much each business making a claim is entitled to.
Business Secretary Vince Cable said:
“It is vital that small businesses affected by the flooding get assistance as quickly as possible. We know the insurance companies are working to process claims as quickly as possible and we will inform local authorities of their allocations from the Business Support Scheme on Thursday to assist businesses with clean-up costs or help them to continue trading.
“I encourage all businesses affected by flooding to get in touch with their local authority or contact the Business Support Helpline, where our team of advisers will be able to direct people to a wide range of practical help and advice.”
If you’d like to find out more about the £10 million support scheme for flood affected businesses you can call the dedicated Business Support Helpline on 0300 456 3565. The support line is offering businesses up to one hour free advice with an adviser.
Image: © Wight kind permission of Holly Fletcher
