Call for Sunderland businesses to get £15,000 to help them survive Covid pandemic
It says the added financial support is essential if companies operating those fields, which from tomorrow (NOTE – Wed) will be within tier 3 regulations, are to remain viable.
BID bosses spoke out after research showed 94 per cent may not be able to continue operating after March.
They are now backing the Bounce Back Better campaign, which wants the Government to provide the one-off grant to firms with a rateable value of up to £150,000.
Sharon Appleby, Head of Business Operations at Sunderland BID, said: “We have many hospitality and retail businesses who have been massively affected by having to close.
“While they have done a brilliant job in trying to diversify, it is still very tough. The fact that we are going to be in tier 3 is a huge blow to hospitality.
“We need to be doing everything we can to help these businesses, which are a huge part of the local economy, to survive.”
The Bounce Back Better initiative has been launched by Croydon BID, which is looking for other BIDs, councils and statutory bodies to add their support.
Matthew Sims, founder of the Bounce Back Better campaign and CEO of Croydon BID, said: “Businesses are approaching a cliff edge.
“They need the government to provide a parachute in sector specific measures to stave off mass closure and job losses.
“Now, more than ever, we need the Chancellor to stand by his promise to do whatever it takes.”
The Bounce Back Better manifesto claims the proposed monthly financial support model for eligible businesses has too many administrative flaws, with many businesses receiving the funds too late, or not at all.
Sunderland BID is a business led partnership which has invested over £3m in the city since 2014 to fulfil its aim of creating a vibrant city centre and opportunities for all.