A COMBINED figure of over £110 million (as of April) has been paid out to businesses across Herefordshire & Worcestershire who have been affected by the coronavirus under the Government's Small Business Grant Scheme.

Similarly, over £75 million has been paid out to businesses in Worcestershire and over £35 million to businesses in Herefordshire by local authorities.

This news is extremely promising and will be vital in supporting cash-strapped businesses in Herefordshire & Worcester. This will provide those businesses with the lifeline and support that they desperately need during these times in order to navigate and overcome the financial impact that the pandemic is inflicting on local businesses.

Research carried out has found that 35 per cent of businesses that have been in contact with us are reporting cash flow problems, the support that has been distributed by the local authorities is vital in addressing this important issue and will provide many businesses with relief.

Cash flow has always been a critical issue facing business, even more so during the current pandemic, and by increasing the access to cash, the government is increasing small businesses ability to survive the crisis.

I advise all businesses in the two counties to get in touch with us or your local growth hub in order to access further support and funding made available from central government that they are eligible to apply for.

For any further information on the support and guidance available to your business, please contact the Herefordshire & Worcestershire Chamber of Commerce by calling 01905 673 600 or visiting our online Coronavirus Information Hub which contains a detailed insight on the support available to business at this time.