Waverley hands out Covid cash to nearly all eligible Godalming businesses

Businesses in Waverley have claimed almost all the emergency coronavirus funding available for firms whose cashflow has been hit by the pandemic.

On 17th March, the government announced £12bn of emergency grants to help support small and rural businesses, as well as retailers.

The lump sums of £10,000 from the Small Business Grant Fund and £25,000 from the Retail, Hospitality and Leisure Grant Fund, were intended to help minimise disruption to cash flows.

Waverley Borough Council was allocated £26,134,000 in April, and has handed over cash to 99.82% of eligible businesses, according to figures released by the BBC Shared Data Unit.

The borough council had identified 2,498 firms that needed the bailout by 19th April, and 1,099 payments were made by that date.

By August 3rd the number of businesses eligible for the cash had been adjusted to 1,681, and 1,678 had been allocated the money.

The average sum handed over to companies in the borough was £13,451.

Waverley handed over £22,570,000 of government money during the period to August 3rd.

That means it still has £3,564,000 to hand over to firms that have not yet stepped forward to claim the support.

The money will go back to the Treasury at the end of the month if it is not claimed.

As of 3rd August, £10.8 billion had been paid out to more than 882,920 businesses across the country, leaving £1.5bn yet to reach nearly 80,000 eligible firms by late August, according to the official data.

Four months after the cash was released, £1.5bn is still unclaimed. The Federation of Small Businesses (FSB) warned the money was sitting in councils' bank accounts.

FSB National Chair Mike Cherry said: "Small businesses have been through what for many has been and will be the most difficult period they have ever faced, and while things are slowly starting to improve, we're not out of the woods yet.

"That is why we are making this call today for small firms to apply as soon as possible so that they don't miss out on grant funding that could prevent a business from going under.

"Many councils have already handed out more than 90 per cent of their Small Business Grants which is good to see, but that means that more money remains which needs to be handed out."

The government says it is working with councils to reach eligible businesses.