UK Government pledges £10 million to flooded SMEs

Last week the Prime Minister David Cameron said that money was no object in dealing with the floods and other ill effects of the recent extreme weather seen in the UK.

This has been followed up with a specific announcement on financial relief for British businesses. The gov.uk website says: “The scheme is worth up to £10 million to provide hardship funding for SME businesses in areas affected by the floods. Both businesses that have been flooded, and businesses that are in affected areas and have suffered significant loss of trade, will be able to apply for support. Eligible businesses will be able to claim for funding for things like immediate clean-up costs, materials, and exceptional costs to help them continue trading.”

Help will include a special business helpline and also additional time, without penalty, to file accounts and the like.

All good, I suppose. But the question of eligibility seems like the sticking point. Who will be judging how bad things are and who gets what?

And considering the scale of the problems, even 10 million isn’t a massive sum. And lots of businesses will need cash immediately to get on with what they need to do to ensure they survive. Government just doesn’t work like that though. It’s too ponderous and bureaucratic.

It will be interesting to see how this pans out. And to see whether 10 million finds its way quickly to people who need it or whether this turns out to be a useful press announcement.

Let us know if you have joy getting any much needed help.