Federation praises ‘bold, brave leadership’ in battle to survive

The Federation of Small Businesses (FSB) has given a resounding thumbs up to Lincolnshire County Council’s new £12 million support package.
Will the £12m scheme help the smaller businesses struggling to survive on Horncastle’s High Street?Will the £12m scheme help the smaller businesses struggling to survive on Horncastle’s High Street?
Will the £12m scheme help the smaller businesses struggling to survive on Horncastle’s High Street?

The scheme is believed to be the first of its kind in the country and the FSB says it will throw a lifeline to county businesses hard hit by the Covid-19 crisis - but which have been previously excluded from financial support.

Katrina Pierce, development manager for the federation in Lincolnshire, said: “The intervention Lincolnshire County Council has set out is incredible.

“The council leaders have recognised the agony and frustration that so many business owners across the county have faced since the outbreak of Covid-19 and can see that many can wait no longer for support from the Treasury.

“They have created a significant and properly-targeted package of support that will not only help those who need urgent help, but will also help stimulate growth and digitisation across Lincolnshire to aid local recovery from this crisis.

“On behalf of the small business community, I would like to thank all the other members of the council responsible for blazing this trail to help in-need businesses in our amazing county.

“They have shown bold, brave leadership and I hope councils across the UK follow their example.”

FSB national chair Mike Cherry said: “Times are tough for small businesses and the self-employed.

“The latest round of restrictions have brought renewed disruption and mounting financial pressure, with balance sheets already in a much worse state than when the pandemic began.

“Current grants struggle to cover costs.

“It’s great to see Lincolnshire County Council at the forefront, leading the way by offering this additional direct grant scheme, in particular to those that have not yet received any financial help.

“Of course, this is not an endless pot of money and £12m won’t stretch to cover all businesses that need the funds.

“(The) government needs to make sure they are stepping in, to help top-up funding where schemes are oversubscribed.

Businesses could benefit from up to £10,000 of funding.

The county council will be using money from its own reserves to support the scheme.

Council leader Martin Hill said: “We know local businesses have had a particularly tough time during the pandemic, so we want to make additional support available.”

• Grants will be available for specific purposes and will be handed out on a first come, first served basis. The main grant scheme is set to launch at 12pm on Tuesday, February 23.