Over 450 Newcastle firms set to receive £8.4m funding amid COVID-19 disruption

Hundreds of Newcastle businesses are set to receive multi-million pound funding to support them through the COVID-19 pandemic and subsequent business disruption.

Over 450 firms across the city will receive funding worth £8.4m from Newcastle City Council next week to help them through the disruption caused by the ongoing coronavirus outbreak.

It is estimated that a total of around 4,000 local businesses are eligible for the support, which includes grants of up to £25k for firms in receipt of small business rate relief.

Cllr Nick Forbes, leader of Newcastle City Council, commented: “The coronavirus crisis is having an impact on every aspect of life in our city. It’s not just a public health crisis, it’s creating an economic crisis too.

“The Government’s announcements of help and support are important first step. I welcome them, and we are working to ensure that they are tailored to our local circumstances. In particular, I know many of our small and medium sized businesses – who are incredibly important to our city’s diverse economy – are struggling at the moment.”

“We are working hard to support our city’s businesses through the difficult times ahead, so that we not only protect jobs but position for the recovery when it comes.”