Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps he is taking to support SMEs in Streatham that are experiencing cancellations and a decline in footfall during the covid-19.

Recognising that the rise of the Omicron variant means some businesses are likely to struggle over this period, my Rt. Hon. Friend Mr Chancellor of the Exchequer announced on 21 December that additional support will be available for businesses who have been impacted by the new variant.

The Omicron Hospitality and Leisure Grant provides local councils with one-off grant funding to support hospitality, leisure and accommodation businesses in England. Further information can be found at www.gov.uk/guidance/check-if-youre-eligible-for-the-omicron-hospitality-and-leisure-grant.

The Additional Restrictions Grant (ARG) provides local councils with grant funding to support businesses that are severely impacted by coronavirus and the rise of the Omicron variant, which are not eligible for other grant funding. Further information can be found at www.gov.uk/guidance/check-if-youre-eligible-for-the-coronavirus-additional-restrictions-grant. Around 200,000 businesses will be eligible for business grants which will be administered by Local Authorities. The Additional Restrictions Grant (ARG) fund is open until March 2022.

The Recovery Loan Scheme is open to all businesses, including those who have already received support under the existing COVID-19 guaranteed loan schemes. At the Autumn Budget, the Chancellor announced an extension of the scheme for SMEs from 1 January 2022 until 30 June 2022.