Small businesses could be offered grants for energy crisis

Firms could be offered grants to try and prevent thousands of UK businesses going bust due to rising energy costs

Chancellor Nadhim Zahawi is considering grants, similar to previous Covid support, for small businesses to help them through the energy crisis.

Officials are drafting a collection of proposals to assist businesses with uncapped energy bills. One of these proposals could be to recycle previous Covid financial support schemes.

Other suggestions include VAT and business rate holidays to lessen SME's total bills. These strategies were used during the Covid pandemic, which helped the hospitality, leisure and tourism sectors during lockdowns.

The choice would fall on the incoming Prime Minister, which could be Liz Truss or Rishi Sunak, and whether they'd like to worsen the national debt.

Article by Small Business