Government announces £10 million tourism rescue package

The Government has announced that tourism providers in England and Wales can now apply for a share of a £10 million rescue package designed to support the sector.

The funding – which forms part of the Government’s renewal and recovery campaign – comes as some tourism, retail and hospitality businesses were given the green light to open their doors from 04 July.

According to the Treasury, the new £10 million ‘Kick-starting Tourism’ Package will give small businesses in tourist destinations grants of up to £5,000 to help them adapt their businesses to prevent the spread of the coronavirus.

Businesses can use the non-repayable cash grant to pay for “specialist professional advice” such as human resources, legal or financial expertise, to adopt new technology and online systems, or to purchase new equipment.

Commenting on the announcement, Minister for Regional Growth and Local Government Simon Clarke said: “Kick-starting domestic tourism will be key to our economic recovery and that is why I am delighted to announce £10 million in new funding for small businesses in tourist destinations, bringing jobs, investment, and financial support to the communities who need it the most.”

Tourism Minister Nigel Huddleston added: “This fund will help many small businesses in tourism destinations and with the infrastructure investment brought forward will provide a further boost for jobs and growth.”

The new grant fund adds to existing support available to tourism businesses, such as Business Rates Relief, the Coronavirus Business Interruption Loan Scheme (CBILS), the Coronavirus Job Retention Scheme (CJRS), and grant funding of up to £25,000 available through the Retail, Hospitality and Leisure Grant Fund.

For help and advice, contact our expert team today.

Posted in Blog, Business, Covid-19, Covid-19 - Tourism and Hospitality, covid-19-update, Economy, Finance, Government Funding, Grants and Deferrals, Loans, SME, SMEs, SMEs / Business, Tourism.