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£1m emergency fund launched for York businesses

Posted: 30th Mar 2020 by Hunter Gee Holroyd Business Advice General, Coronavirus

City of York Council has launched a £1m local emergency fund to help businesses deal with the impact of the coronavirus outbreak.

The fund will target a range of support at about 1,000 small and micro companies, who are not set to benefit from the recently announced government support packages.

In addition to the creation of a business support fund, the council is also taking a series of action to alleviate pressures on local businesses. These include deferring all 350 council commercial rents for three months, a suspension of planned increases in fees and charges and a license fee ‘holiday’ for businesses which can’t use them.

It has also committed to support key suppliers by paying those providing services to council and maintained schools, paying in advance where possible, and exploring the potential for short-term loans.

Councillor Keith Aspden, leader of City of York Council, said: “These measures are designed to protect jobs and help local businesses who are having to adapt to extremely challenging circumstances and fall outside the remit of any government support.

“The outbreak of coronavirus is changing almost every aspect our daily lives, and we are adapting quickly and reprioritising our spending to support the most vulnerable and protect our economy.”

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