25th Aug 2011 - 00:00
Abstract
A collaboration between some of Britain’s biggest companies and the Mayor of London, has resulted in the creation of the ‘High Street Fund’, which aims to help businesses damaged during the recent riots rebuild their livelihoods.
The initial cash commitment stands at over £3 million with an additional £500,000 coming from the Mayor of London. It is hoped that more leading companies, as well as individuals, will donate to the fund to ensure that as many small businesses as possible can be helped. Businesses including Barclays, BP, Capita, Deloitte, Lloyds Banking Group, RBS and Santander made contributions and the Mayor of London, Boris Johnson, said their help was crucial to get damaged businesses back up and running. "I have seen at first hand businesses showing remarkable resilience and true fighting spirit. However, it is no secret that many high streets in the capital are still suffering as a result of the appalling events earlier this month. Small businesses need urgent help to repair damage and get goods back on the shelves and the High Street Fund will help to do just that," said Johnson. Sir William Castell, chairman of the High Street Fund and the Wellcome Trust said: "As a businessman, I know that at times of crisis there is a fine line between survival and failure. The High Street Fund will provide immediate financial assistance to help our shopkeepers and traders. By coming together we aim to help affected businesses to get back on its feet" HOW DO YOU QUALIFY? • To qualify for funding, a business owner will need to explain what has happened to his or her business, how it happened, and how assistance from the High Street Fund will help get them back on their feet. • The Fund will offer nationwide support to businesses affected across the country by this month's disturbances. • The Fund aims to make it easy to apply for funding and to make payments swiftly. Claims will be made using a form that can be downloaded from the High Street Fund's website – www.thehighstreetfund.co.uk • Claims will be evaluated on a case-by-case basis and can be submitted from Friday 26th August. • Capita will be running a freephone helpline, 0800 093 5858, open from 09:00 to 17:00 Monday to Friday, to assist businesses applying for grants from the fund.