Small and medium-sized businesses in South Tyneside will be able to get grants worth tens of thousands of pounds to help them through the coronavirus outbreak.
Cllr Iain Malcolm, leader of South Tyneside Council, unveiled the authority's support package aimed at easing the economic hardships caused by the Covid-19 pandemic.
Any businesses in the retail, hospitality and leisure sectors as well as estate agents, letting agents and bingo halls, operating with a rateable value between £15,000 and £51,000, will get a £25,000 grant.
Any small business in any sector already in receipt of small business rates relief will be eligible for a £10,000 grant.
Business rates will also be waived for all these companies for the next financial year.
Cllr Malcolm said: "We are working hard to protect all our residents from the impact of Covid-19, and most importantly, our most vulnerable residents, but we recognise too the profound challenges facing South Tyneside’s business community.
"We are working with government and other partners nationally and regionally to safeguard their livelihoods and provide them with the advice, guidance and targeted support that they need and are entitled to.
"Over the coming days, we are establishing a business advice hub to provide proactive support and respond to individual concerns and queries. This will include a dedicated hotline and email address.
"We know that swift action is vital to support cash flow and protect jobs and we are focusing on making sure help gets to those who need it, as quickly as possible."
The eligible businesses will be contacted in due course and an online form has been set up to verify bank details.
Cllr Malcolm added: "This is a very dynamic and constantly-evolving situation, with more information coming through all the time; our priority is to ensure that financial support is released as soon as is practical.
"These 2,500 local businesses that are eligible for this direct financial assistance are vital to the prosperity of our borough and will be crucial in helping our local economy recover when we have beaten this virus.
"We will continue to work hand-in-hand with them and our partners to unlock all available support and financial assistance to allow them to continue to operate through this crisis and beyond."
More information will be available at www.southtyneside.gov.uk/business
