The Mayor’s Business Continuity Fund
The Mayor of London has established a fund to support businesses which have been impacted by recent terror attacks and the Grenfell Tower fire. Following these events many businesses have been unable to trade or have been otherwise directly affected so the Mayor has set aside up to £300,000 to be made available to support the businesses. The fund aims to minimise the negative effect these types of disasters may have on local businesses, particularly small businesses, and ensure that the businesses can obtain funding and access support immediately to help get them back on their feet. Funding will be aligned with any local Funds and the details below outline how this funding, and any other associated support can be accessed.
The Mayor has contributed to the Borough Market Relief Fund, which has been established by United St. Saviour’s Charity, the Borough Market Trust and Better Bankside. Applications for the initial two rounds of grants have already closed however further rounds are due to be launched. More information regarding the fund and how you can apply can be found on the Better Bankside website here.
Additionally the following support is available to businesses affected by the terrorist incident at Borough Market:
- Automatic rate relief from Southwark Council: All the businesses that were caught up inside the police crime scene following the London Bridge and Borough Market attack on Saturday 3 June are being offered automatic rate relief from Southwark Council. The Council is offering a discretionary business rates discount for a period of up to one month for any of the businesses affected by the police cordon while forensic investigations took place. See more on Southwark Council’s website.
- Training: Southwark Council’s Emergency Planning Team can offer or assist with the following training for businesses:
- Counter terrorist awareness (Project Griffin and Project Argus) which is led by the Police.
- Business Continuity Advice for local businesses.
If businesses are interested in either, they should contact: firstname.lastname@example.org.
- Business Support: We are offering businesses affected by the terrorist incident at Borough Market up to three hours of free one-to-one mentoring support through our ‘Start, Scale, Grow’ project. To book please call 08456 099 991 or email email@example.com mentioning ‘Borough Market’. Businesses are also being signposted to the London Growth Hub in order to search our database of nearly 400 business support schemes and nearly 300 business support events across the capital, many of which are free to access.
Since the fire at Grenfell Tower, Portobello Business Centre (PBC) has been providing a business triage service for all businesses affected. They are currently in the process of organising temporary workspace and storage facilities as well as offering business advice. They can act as liaison to help assist with issues such as accessing premises beyond the cordon, business rates relief etc. For more information regarding the support available from PBC click here. PBC will also be administering grants funded by the Mayor’s Business Continuity Fund, details for which are currently being finalised and are expected to be published soon.